How to calculate long run confidence level?

[San K]

Hello,
I'm using a first difference model. Here is my simplified model to
estimate price elasticity (Constant, error term and other factors are
not shown).

Y(t) = B0*Y(t-1) + B1*Price(t) + B2*Price(t-1) + B3*Price(t-2) +
B4*Price(t-3) + B5*Price(t-4)

Long run Elasticity is = (B1 + B2 + B3+ B4+ B5)/ (1 – B0)
Above calculated value can be multiplied by the given price to
estimate the point elasticity.

Now the question is, how do you estimate the confidence level (approximately)?

Regards,
San K

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[David Marso]

Hmmmm, Bootstrap?

San K wrote

Hello,
I'm using a first difference model. Here is my simplified model to
estimate price elasticity (Constant, error term and other factors are
not shown).

Y(t) = B0*Y(t-1) + B1*Price(t) + B2*Price(t-1) + B3*Price(t-2) +
B4*Price(t-3) + B5*Price(t-4)

Long run Elasticity is = (B1 + B2 + B3+ B4+ B5)/ (1 – B0)
Above calculated value can be multiplied by the given price to
estimate the point elasticity.

Now the question is, how do you estimate the confidence level (approximately)?

Regards,
San K

=====================
To manage your subscription to SPSSX-L, send a message to
[hidden email] (not to SPSSX-L), with no body text except the
command. To leave the list, send the command
SIGNOFF SPSSX-L
For a list of commands to manage subscriptions, send the command
INFO REFCARD