A Semi-parametric Approach to Estimate the Income Elasticity for a Car Fuel Price in Korea with Considering to Deal with Zero Expenditure

• 발행기관: 한국자료분석학회
• 저자명: 이주석(Joo Suk Lee) 최은철(Eun Chul Choi)
• 간행물 정보: 『Journal of The Korean Data Analysis Society (JKDAS)』Vol.21 No.5, 2215~2221쪽, 전체 7쪽
• 주제분류: 자연과학 > 통계학
• 파일형태: PDF
• 발행일자: 2019.10.31

영문 초록

The analysis of the income elasticity for the car fuel expenditure is a very important research topic because of the large proportion of car fuel costs in transportation expenditure and the large amount of price fluctuation. Even if there have been many studies in other countries, few studies have been done in Korea. This paper, therefore, estimates the income elasticity for a car fuel expenditure. Furthermore, about 40 percent of all respondents reported zero expenditure on car fuel. This paper, therefore, has two major goals. The first is to estimate the income elasticity for a car fuel expenditure. The second goal is to explore a robust approach to dealing with zero expenditure on car fuel. Especially, instead of the Tobit estimator, based on the maximum likelihood (ML) estimation method, this paper applied symmetrically censored least squares (SCLS) estimation as a robust approach to dealing with zero expenditure on car fuel in Korea. According to the analysis, car fuel expenditure is very inelastic to households’ income.

목차

1. Introduction

2. Estimation model

3. Estimation results

4. Conclusion

References

키워드

car fuel expenditure income elasticity zero expenditure symmetrically censored least squares