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Yong-gook Jung
''A new strategy to estimate time-to-build completion rates''
( 2013, Vol. 33 No.2 )
Time-to-build completion rates can be estimated individually, under the restrictions that they are positive values summing up to one. As an alternative strategy, we may use the beta distribution as a restriction and calculate the corresponding completion rates collectively. The estimation results of a time-to-build model indicate that imposing the beta distribution may successfully preclude unrealistic completion pattern and improve fit of the model to data.
Keywords: Time-to-build, completion rates, beta distribution
JEL: E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data)
E3 - Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
Manuscript Received : Dec 03 2012 Manuscript Accepted : Apr 22 2013

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