Statistical Aggregation Analysis Characterizing Macro Functions With Cross Sec
Statistical Aggregation Analysis Characterizing Macro Functions With Cross Sec
Thomas M Stoker
The book Statistical Aggregation Analysis Characterizing Macro Functions With Cross Sec was written by author Thomas M Stoker Here you can read free online of Statistical Aggregation Analysis Characterizing Macro Functions With Cross Sec book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is Statistical Aggregation Analysis Characterizing Macro Functions With Cross Sec a good or bad book?
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One of the reasons Friedman's book The Theory of the Consumption Function is so masterful is that the distributional foundation is clearly stated and investigated empirically with both macro and micro data, although not using pooled methods as advocated here. Other early works in demand analysis which estimated income elasticities from cross section data and applied them to time series analysis were Wold (1953) and various work of Stone, although these authors did not use aggregating models spe...cifically. A recent demand application of an exact aggregation model is Jorgenson, Lau, and Stoker (1979). 2. This critique applies equally well to studies of aggregate variables such as national income, total personal consumption expenditures, etc. 3. Ideally, one requires micro data from each period of the time series data in order to study the influence of all distributional movements. Unfortunately, this much data is generally not available. Some exceptions are the longitudinal, or panel data sets now available on wage rates, hours worked and demographic characteristics across families and over time.
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