Farmers' expenditure in Greece : an application of transformation of the variables
Part of : Σπουδαί : journal of economics and business ; Vol.38, No.1-2, 1988, pages 126-147
Issue:
Pages:
126-147
Author:
Abstract:
This paper examines Farmers' expenditure patterns in Greece for eight major categories of goods and services that together taken exhaust a large percentage of their total expenditure. The analysis is based on the Greek survey of expenditures in 1982. Barten's (1964) general model for the per capita Engel curves is specified over four traditional functional forms. The transformation of variables analysis of Box and Cox (1964) has been used in order to search for the «best» functional form for each category of goods and services considered. Results show Engel relationships to require different functional forms for different expenditures. These forms are not the frequently employed linear or log - inverse ones. Expenditure elasticities estimated at mean values of the variables in each best functional form indicate a considerable change in the allocation of total expenditure in a stated per centage increase of Farmers income.
Subject (LC):
Keywords:
econometrics, agricultural economics
Notes:
Περιέχει πίνακες, σημειώσεις και βιβλιογραφία
