Should single-equation dynamic gasoline demand models include moving average terms?

被引：2
|
作者：
Breunig, Robert V. [1 ]
机构：
[1] Australian Natl Univ, Res Sch Econ, Canberra, ACT 0200, Australia
来源：
TRANSPORTATION RESEARCH PART D-TRANSPORT AND ENVIRONMENT | 2011年 / 16卷 / 06期
关键词：
Single-equation demand analysis; Habit formation; Gasoline demand elasticity; ELASTICITIES; METAANALYSIS;
D O I：
10.1016/j.trd.2011.04.006
中图分类号：
X [环境科学、安全科学];
学科分类号：
08 ; 0830 ;
摘要：
We argue that single-equation dynamic demand models applied to estimating gasoline demand should capture the slow evolution of unobservable habits that in part determine vehicle and gasoline usage. Inclusion of unobservable habits implies that single-equation models should include moving-average terms. Ordinary least squares estimation is thus inappropriate. Using examples from Australia and the US, it is shown that estimates of long-run price and income elasticities become much less precise. (C) 2011 Elsevier Ltd. All rights reserved.
引用
收藏
页码：474 / 477
页数：4
相关论文
共 38 条
  • [1] DISCRIMINATING AMONG ALTERNATIVE HABIT FORMATION SCHEMES IN SINGLE-EQUATION DEMAND MODELS
    GREEN, RD
    POPE, RD
    PHIPPS, TT
    APPLIED ECONOMICS, 1981, 13 (03) : 399 - 409
  • [2] Dynamic Simulation and Testing for Single-Equation Cointegrating and Stationary Autoregressive Distributed Lag Models
    Jordan, Soren
    Philips, Andrew Q.
    R JOURNAL, 2018, 10 (02): : 469 - 488
  • [3] IMPACT OF MONETARY-POLICY IN SINGLE-EQUATION MACRO MODELS
    FRIEDLANDER, S
    NEBRASKA JOURNAL OF ECONOMICS AND BUSINESS, 1980, 19 (01): : 15 - 29
  • [4] Model problems for the tear film in a blink cycle: single-equation models
    Braun, R. J.
    King-Smith, P. E.
    JOURNAL OF FLUID MECHANICS, 2007, 586 : 465 - 490
  • [5] TESTING SINGLE-EQUATION LEAST SQUARES REGRESSION MODELS FOR AUTOCORRELATED DISTURBANCES
    HENSHAW, RC
    ECONOMETRICA, 1966, 34 (03) : 646 - &
  • [6] Using single-equation models of function-of-functions type in sociological research
    Dahlbäck, O
    QUALITY & QUANTITY, 2001, 35 (02) : 173 - 189
  • [7] Parametric quantile autoregressive moving average models with exogenous terms
    Dasilva, Alan
    Saulo, Helton
    Vila, Roberto
    Fiorucci, Jose A. A.
    Pal, Suvra
    STATISTICAL PAPERS, 2024, 65 (03) : 1613 - 1643
  • [8] Fixed-b asymptotics in single-equation cointegration models with endogenous regressors
    Bunzel, Helle
    ECONOMETRIC THEORY, 2006, 22 (04) : 743 - 755
  • [9] Single-equation models for the tear film in a blink cycle: realistic lid motion
    Heryudono, A.
    Braun, R. J.
    Driscoll, T. A.
    Maki, K. L.
    Cook, L. P.
    King-Smith, P. E.
    MATHEMATICAL MEDICINE AND BIOLOGY-A JOURNAL OF THE IMA, 2007, 24 (04): : 347 - 377
  • [10] Modelling Bicycle Demand Using Autoregressive and Moving Average Models
    Starczewski, Jakub
    Grzesica, Dariusz
    Jirsa, Vojtech
    3RD WORLD MULTIDISCIPLINARY CIVIL ENGINEERING, ARCHITECTURE, URBAN PLANNING SYMPOSIUM (WMCAUS 2018), 2019, 471
1234