Skip to main content
SpringerLink
Log in

The discrete specification of the state-adjustment model when the state is unobservable

  • Published:
Empirical Economics Aims and scope Submit manuscript

Summary

This note investigates various ways of specifying the state-adjustment model. It is shown that the value of the structural parameters depends on the discrete specification although the estimating form remains unchanged. Consequently, it is important that analysis involving those parameters be carried out using estimates obtained in a mutually consistent specification of the model; failures to do so may result in erroneous conclusions.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Similar content being viewed by others

References

  • Chow, G.: Statistical Demand Functions for Automobiles and their Use for Forecasting. The Demand for Durable Goods, ed. by A.C. Harberger, Chicago 1960, 149–178.

  • Garcia Dos Santos, J.: Estimating the Durability of Consumers' Durable Goods. Review of Economics and Statistics54, 1972, 475–479.

    Google Scholar 

  • Houthakker, H., andL.D. Taylor: Consumer Demand in the United States. Cambridge, second and enlarged edition, 1970.

  • Phlips, L.: A Dynamic Version of the Linear Expenditure Model. Review of Economics and Statistics64, 1972, 450–458.

    Google Scholar 

  • -: Applied Consumption Analysis. Amsterdam 1974.

  • Stone, J.R.N., andD.A. Rowe: The Durability of Consumers' Durable Goods. Econometrica28, 1960, 407–416.

    Google Scholar 

  • Taylor, L.D., andD. Weiserbs: On the Estimation of Dynamic Demand Functions. Review of Economics and Statistics54, 1972, 459–465.

    Google Scholar 

  • Weiserbs, D.: Contributions a une analyse dynamique des choix du consommateur. Doctoral Dissertation, Louvain 1972.

  • Winder, J.W.L.: A Note on the Houthakker-Taylor Analysis. Journal of Political Economy79, 1971, 368–371.

    Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Institut de Recherches Economiques, Université Catholique de Louvain, 29, rue des Wallons, B-1348, Louvain-La-Neuve

    D. Weiserbs

Authors
  1. D. Weiserbs
    View author publications

    You can also search for this author in PubMed Google Scholar

Additional information

I am indebted to P. Simmons, R. Anderson, L. Phlips and an anonymous referee for helpful comments on an earlier draft. It is unlikely that they agree to share the responsability for errors and omissions.

Rights and permissions

Reprints and permissions

About this article

Cite this article

Weiserbs, D. The discrete specification of the state-adjustment model when the state is unobservable. Empirical Economics 2, 245–251 (1977). https://doi.org/10.1007/BF01760410

Download citation

  • Received:

  • Revised:

  • Issue Date:

  • DOI: https://doi.org/10.1007/BF01760410

Keywords

Search

Navigation