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- W2032352073 abstract "A COBB-DOUGLAS TYPE FUNCTION with both multiplicative and additive errors has been proposed by Goldfeld and Quandt [2, 3]. It may be written in the form ( I ) V,= ir~t . kkt + t, t = 1, ... ., T. where Xjt,. . , Xkt are the t-th observations on the k explanatory variables, Cao, alI . . . I ak are unknown parameters and ut and vt are disturbance terms distributed independently of the explanatory variables. It is assumed that E[vt] 0, E[eut] = A (a constant), E[utu,] = E[vtv,] = 0 for s f t, E[u2] =2 E[v?] = a. and E[utv,] = 0 for all s, t. If it can be assumed that ut and vt are normally distributed, the method of maximum likelihood may be employed to estimate the parameters in (1); see Goldfeld and Quandt [2, 3]. The resulting maximization algorithm, however, is rather complex and Kelejian [4] has recently suggested a much simpler estimation procedure. Kelejian claims that his method, which does not require any assumptions concerning the distributions of the disturbance terms, is asymptotically efficient. In this note it is shown that this is not, in fact, the case." @default.
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- W2032352073 date "1976-06-01" @default.
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- W2032352073 title "A Note on the Efficiency of Kelejian's Method of Estimating Cobb-Douglas Type Functions with Multiplicative and Additive Errors" @default.
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- W2032352073 doi "https://doi.org/10.2307/2525719" @default.
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