Access

You are not currently logged in.

Access JSTOR through your library or other institution:

login

Log in through your institution.

If You Use a Screen Reader

This content is available through Read Online (Free) program, which relies on page scans. Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Journal Article

Analysis of Distributed Lag Models with Applications to Consumption Function Estimation

Arnold Zellner and Martin S. Geisel
Econometrica
Vol. 38, No. 6 (Nov., 1970), pp. 865-888
Published by: The Econometric Society
DOI: 10.2307/1909697
Stable URL: http://www.jstor.org/stable/1909697
Page Count: 24
Were these topics helpful?
See somethings inaccurate? Let us know!

Select the topics that are inaccurate.

Cancel
  • Read Online (Free)
  • Download ($10.00)
  • Subscribe ($19.50)
  • Add to My Lists
  • Cite this Item
Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Analysis of Distributed Lag Models with Applications to Consumption Function Estimation
Preview not available

Abstract

Bayesian and maximum likelihood methods and quarterly United States data are employed to estimate parameters of an aggregate consumption function, $C_{t}=\lambda C_{t-1}+(1-\lambda )kY_{t}+u_{t}-\lambda u_{t-1}$, under four different assumptions about the error terms, $u_{t}-\lambda u_{t-1}$, t = 1, 2,..., T. After a discussion of the results of estimation, Bayesian techniques for computing posterior odds on alternative models are described and applied to obtain posterior odds relating to different formulations of the consumption model with alternative prior probability density functions for the parameters.

Page Thumbnails

  • Thumbnail: Page 
865
    865
  • Thumbnail: Page 
866
    866
  • Thumbnail: Page 
867
    867
  • Thumbnail: Page 
868
    868
  • Thumbnail: Page 
869
    869
  • Thumbnail: Page 
870
    870
  • Thumbnail: Page 
871
    871
  • Thumbnail: Page 
872
    872
  • Thumbnail: Page 
873
    873
  • Thumbnail: Page 
874
    874
  • Thumbnail: Page 
875
    875
  • Thumbnail: Page 
876
    876
  • Thumbnail: Page 
877
    877
  • Thumbnail: Page 
878
    878
  • Thumbnail: Page 
879
    879
  • Thumbnail: Page 
880
    880
  • Thumbnail: Page 
881
    881
  • Thumbnail: Page 
882
    882
  • Thumbnail: Page 
883
    883
  • Thumbnail: Page 
884
    884
  • Thumbnail: Page 
885
    885
  • Thumbnail: Page 
886
    886
  • Thumbnail: Page 
887
    887
  • Thumbnail: Page 
888
    888