Applied Econometrics with SAS

Applied Econometrics with SAS

by Barry K. Goodwin, A. Ford Ramsey, Jan Chvosta
Released April 2018
Publisher(s): SAS Institute
ISBN: 9781635260502

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Book description

Using Applied Econometrics with SAS: Modeling Demand, Supply, and Risk, you will quickly master SAS applications for implementing and estimating standard models in the field of econometrics. This guide introduces you to the major theories underpinning applied demand and production economics. For each of its three main topics—demand, supply, and risk—a concise theoretical orientation leads directly into consideration of specific economic models and econometric techniques, collectively covering the following:

  • Double-log demand systems
  • Linear expenditure systems
  • Almost ideal demand systems
  • Rotterdam models
  • Random parameters logit demand models
  • Frequency-severity models
  • Compound distribution models
  • Cobb-Douglas production functions
  • Translogarithmic cost functions
  • Generalized Leontief cost functions
  • Density estimation techniques
  • Copula models

SAS procedures that facilitate estimation of demand, supply, and risk models include the following, among others:

  • PROC MODEL
  • PROC COPULA
  • PROC SEVERITY
  • PROC KDE
  • PROC LOGISTIC
  • PROC HPCDM
  • PROC IML
  • PROC REG
  • PROC COUNTREG
  • PROC QLIM

An empirical example, SAS programming code, and a complete data set accompany each econometric model, empowering you to practice these techniques while reading. Examples are drawn from both major scholarly studies and business applications so that professors, graduate students, government economic researchers, agricultural analysts, actuaries, and underwriters, among others, will immediately benefit.

This book is part of the SAS Press program.

Table of contents

  1. Chapter 1. Introduction
    1. 1.1 Overview
    2. 1.2 Applications of Economic Analysis
    3. 1.3 Intended Audience
    4. 1.4 Examples for Hands-On Practice
  2. Chapter 2. Theory of Demand
    1. 2.1 Overview
    2. 2.2 Preference Axioms and the Utility Function
    3. 2.3 Utility and Marshallian Demands
      1. 2.3.1 A Graphical Look at Utility and Demand
    4. 2.4 Indirect Utility
    5. 2.5 Hicksian Demands and Expenditures
      1. 2.5.1 The Slutsky Equation
    6. 2.6 Elasticities
    7. 2.7 Separability and Aggregation
  3. Chapter 3. Empirical Approaches to Demand Analysis
    1. 3.1 Overview
    2. 3.2 Double Logarithmic Demand Functions
      1. 3.2.1 The Double Log Form
      2. 3.2.2 Empirical Analysis
    3. 3.3 Rotterdam Model
      1. 3.3.1 Absolute Price and Relative Price Rotterdam Formulations
      2. 3.3.2 Empirical Analysis
    4. 3.4 Almost Ideal Demand System
      1. 3.4.1 Full and Linear Approximate AIDS Models
      2. 3.4.2 Empirical Analysis
    5. 3.5 Demand for Differentiated Products
      1. 3.5.1 Discrete Choice
      2. 3.5.2 Logit Models
      3. 3.5.3 Empirical Analysis
    6. 3.6 Conclusion
  4. Chapter 4. Theory of Supply
    1. 4.1 Overview
    2. 4.2 The Production Function
    3. 4.3 The Cost Function and Derived Factor Demands
    4. 4.4 The Profit Function
      1. 4.4.1 Profit Derived Factor Demands
      2. 4.4.2 Elasticities
    5. 4.5 Concepts of Time in Production
    6. 4.6 Separability and Aggregation
  5. Chapter 5. Empirical Approaches to Supply Analysis
    1. 5.1 Overview
    2. 5.2 Cobb-Douglas Production
      1. 5.2.1 Econometric Analysis
    3. 5.3 Translog Functional Form
      1. 5.3.1 Empirical Analysis
    4. 5.4 Frontier Production Functions
      1. 5.4.1 Empirical Analysis
  6. Chapter 6. Empirical Approaches to Risk
    1. 6.1 Overview
    2. 6.2 Frequency and Severity Modeling
      1. 6.2.1 Compound Distribution Model
      2. 6.2.2 Empirical Analysis
    3. 6.3 Agricultural Insurance
      1. 6.3.1 Yield Insurance
      2. 6.3.2 Empirical Analysis
      3. 6.3.3 Revenue Insurance
      4. 6.3.4 Dependence and Copulas
      5. 6.3.5 Empirical Analysis
  7. References

Product information

  • Title: Applied Econometrics with SAS
  • Author(s): Barry K. Goodwin, A. Ford Ramsey, Jan Chvosta
  • Release date: April 2018
  • Publisher(s): SAS Institute
  • ISBN: 9781635260502