John Johnston. Vicens-Vives, – Econometria – pages J. Johnston,J. Dinardo No preview available – QR code for Métodos de econometría. Econometría Johnston DiNardo – – Econometric Methods (17 mb). Autor: Johnston Dinardo; Visibilidad: Todo Internet; Vista Previa. Results 1 – 7 of 7 Métodos de econometría by J. Johnston and a great selection of related books, art and collectibles available now at
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The AR 1 factor allows the introduction into the model of the systematic part which links the residues in t and t-1, generating a new residual term which complies with the assumptions of the classic model. The maximization of the benefit is binding to obtain an observable relationship and fundament the econometric model.
In the present work, the interest is centered in the exponent accompanying the production level, as it reflects the type of yield to scale present in the pork meat production process. Market structure, scale economies and industry performance. This investigation had the objective to verify the presence of economies of scale in this industry. Thus, we see that the total cost function, issuing from a Cobb-Douglas technology, can be expressed as:. This investigation had the objective to verify the presence of economies of scale in this industry.
The residue resulting from this estimation showed a Jarque-Bera statistic of 1. The pork meat industry has shown great dynamism in production growth rates as well as growing export volumes ODEPA, The result is shown in Figure 1.
This dynamism has been accompanied by significant changes in the industrial organization of this sector.
In this sconometria, it is fundamental to know the sign of this exponent. This is the fundament to set out the following assumptions. Analyzing algebraically according to expression 2 in economettia terms, the product-labor elasticity resulted as 0.
This result suggests that the variables of the model co-integrate, that is to say, there is a long term balance relationship among them. In effect, a fundamental element which allowed this growth in the vertical integration front and back, and the concentration of the demand in the corn market, which it is open to foreign markets.
On the other hand, given the product-factor elasticity found, it can be stated that the process aggregate is more capital-intensive.
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To this end the model was estimated with the Cochrane-Orcut correction Johnston y Dinardo,to attenuate the effect of metodo autocorrelation in the residues of the model. These johnsyon have caused a decrease in the wholesale market price levels; this trend was also documented for the U.
In this last case, the series has constant variance when, in absolute terms, the statistic dinrado Dickey-Fuller Augmented DFA Johnston and Dinardo, calculated is higher than that tabulated.
Applying logarithm to 6we obtain: In this case, the price is weighted by a factor which measures the power of monopoly of the representative enterprise, whose estimation is found in the pioneer work of Bresnahan The model is of partial equilibrium and the johnstoon analytic assumptions are the following:. The unit root test was applied in this manner. Py, wholesale price of pork meat expressed in Chilean pesos per kilogram; w, salary index of the Chilean economy for the industrial sector, analysis unit of this research; r, interest rate of the financial system for one-year placements ; Y, port meat production level, measured in tons.
Métodos de econometría – John Johnston – Google Books
To this end, a t test is applied, allowing to prove H o: These trends have caused a decrease in the wholesale market price levels; this trend was also documented for the U. Now, we can state that the market price of pork meat Py is equal to the marginal cost CMga condition of the first order for the maximization of the benefit.
If it is positive, the technology shows yields on a decreasing scale, and if it is statistically equal to zero, this suggests a constant scale of yield. Maximization of benefits in imperfect competition. This is the fundament to set out the following assumptions. An indirect way of estimating the coefficients of function 1 is by the estimation of the costs function obtained from the Cobb-Douglas technology, more specifically, by means of the marginal costs function, since this is expressed in terms of the price of the factors and the level of the production.
Nonparametric estimation of multiproduct and product-specific economies of scale. On the other hand, Coffey and Featherstone employ non-parametric techniques to estimate scale economies with crossed section data, fundamentally because it is not necessary to restrict the technology employed to a specific functional form. The dinarddo element that sustains concentration and expansion of the production is the econometgia of increasing returns to scale in the production process.
ABSTRACT The pork meat industry in Chile exhibits significant rates of production growth, with a decreasing trend in the wholesale market price and growing levels of johnstn of the supply in a reduced number of companies. Given the above results, the industry presents economies of scale, since the variation of the costs as regards production is estimated as 0.
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To fundament these results, a contrast was effected upon a linear combination of the estimated coefficients, to validate that the sum of the interest rate coefficient Starting from this expression and considering a long term mettodos, a technology shows yields in a growing scale when the sum of the exponents accompanying the variables labor and capital is greater than one, so that said technology shows economies of scale. Carried to extremes, scale economy sustains the argument for the existence of a natural monopoly, metoodos in that case the optimum production level coincides with the total demand of the market.
The coefficient accompanying production resulted different and below zero, this suggests that the pork meat production process shows yields on a decreasing scale. The identification and econometric estimation of economies of scale has been done using a trans-logarithmic costs function over panel data, linking size of the plant and variables related to technology, which emphasis on the cost elasticity at the level of primary production, such as happens in MacDonald and Ollinger and Ollinger et al.
Individual coefficients differed from zero, according to statistic t, as well as the group of the same, as seen in statistic F.
Métodos de econometría – J. Johnston, J. Dinardo – Google Books
In this sense it was justified to incorporate the variables in logarithms; the salaries variable in the first difference and the correction factor of the autocorrelation of the residues AR 1 appearing in model 8.
This process can benefit the consumers, in the context of markets functioning with imperfect information, since the price paid is relatively lower, reflecting the greater efficiency of the company that shows economies of scale in its technological processes, as regards that which would prevail in a competitive market. It was concluded that this industry shows conditions to increase its advantage in costs and of expanding its competitiveness in international markets.
Johnsron the other hand, given the product-factor elasticity found, it can be stated that the process aggregate is more capital-intensive.