Incorporating technological change in the demand for formula feed in France
1982
Surry, Y. | Meilke, K.D.
Extract: The use of a linear time trend as a proxy for technological change in economic relationships often leads to unsatisfactory econometric results. An alternative procedure based on variational parameter procedures is proposed and applied to the demand for hog formula feed, in France. The need to incorporate the technological diffusion process provides the theoretical justification for the procedures used, while the empirical results are quite encouraging.
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