Tran Van Hoa

Improved estimators in some linear errors-in-variables models in finite samples

Abstract The paper uses a Monte Carlo study to demonstrate the dominance under mean squared errors or quadratic loss of a new improved estimator for some linear errors-in-variables models in finite samples. The new estimator is non-linear and biased in a conventional sense and has a smaller risk than the least squares and the Stein estimators. Standard errors for this estimator can be conveniently obtained by bootstrapping methods.

The integrability of generalized working models

Abstract This paper demonstrates the integrability of the generalized Working (1943) model as proposed by Laitinen, Theil and Raparla (1983).

Energy consumption in Australia: Evidence from a generalized working model

Abstract The paper reports an application of the generalized Working model, as proposed by Laitinen-Theil-Raparla (1981) to Australian household expenditure data, to obtain estimates of income elasticities for four types of energy: electricity, gas, other fuels and petrol. The evidence indicates some gain in the Laitinen-Theil-Raparla model but this gain is insufficient, in terms of the Atkinson (1973) test, to significantly discriminate it from the linear expenditure system.

Measuring equivalence scales: A new system-wide method

Abstract The paper proposes a new system-wide method to measure general and commodity-specific equivalence scales and reports some budget standards for policy use in Australia. Based essentially on duality theorems of consumption theory, the method is computationally simple and can be used in models of hierarchic or ordered preferences when data on certain commodities are unreliable.

A divisia system approach to modelling monetary aggregates

Abstract A complete system of Divisia partial adjustment asset equations based on the augmented-price expectations Baumol-Tobin inventory and transactions postulates is used to study the dynamic behaviour of monetary aggregates and their components in Australia during 1969.III to 1983.IV. The system provides a new and useful approach to modelling demand-for-money functions for effective monetary policy controls and targetting.

Longitudinal working models : Estimates of household energy consumption in Australia

Abstract The paper uses household expenditure survey data and alternative functional specifications of Engels laws to establish an empirical pattern of disaggregate energy (ie electricity, gas, other fuels and gasoline) demand characterized by different demographic attributes for use in a combined panel data model of energy consumption and impact in Australia. The findings lend support, in terms of statistical efficiency and economic–theoretic plausibility, to the dominance of the Working form over the conventional linear Allen–Bowley function. Energy as a whole is a necessity while at the disaggregate level gasoline is considered a luxury. The findings indicate in this respect the existence of demand elasticity bias in aggregate energy models.

The inadmissibility of the 2SLS estimator in linear structural equations

Abstract The paper proposes a new estimator for linear structural equations in simultaneous equations models and demonstrates the inadmissibility of the 2SLS estimator for every member of the c -class. As a by-product, the new estimator is also shown to dominate the Stein 2SLS estimator.

The heterogeneity of the consumer's preferences over time: A system-wide analysis of discrete panel data

Abstract The paper uses the individual and overall tests of heterogeneity for two complete PIGLOG models of expenditure equations fitted to discrete survey data to investigate a possible change in the consumers preferences in Australia between 1975/76 and 1983/84. The evidence lends support to the hypothesis of significant behavioral change and also indicates that this change is attributable mainly to the convolution of the consumption patterns in current housing costs and food.

An all-encompassing consumption function: The Australian case

Abstract The paper reports some empirical findings of the Davidson, Hendry, Srba and Yeo (1978) consumption function fitted to Australian quarterly data for the period 1969.3 to 1982.2. The evidence rejects, in terms of the maximum likelihood ratio test, the unitary differencing and price homogeneity restrictions and supports a simple dynamic forecasting model with unconstrained parameters.

A study of economic and financial flows

Abstract A multi-sector and multi-activity duality-based allocation model is used to study the behaviour of economic and financial flows and their stability in Australia for the period 1959.III to 1983.IV. The findings indicate the existence of allocative instability and reject the unitary income elasticity hypothesis. Financial flows are, however, independent of growth of national disposable income.