Computes the consistent and almost unbiased estimator for dummy variables in semi-logarithmic regressions proposed by Kennedy, P.E. (1981). Estimation with correctly interpreted dummy variables in semi-logarithmic equations. American Economic Review, 71, 801.
get_kennedy_estimator(coefficient, variance)
a numeric value representing the so-called "Kennedy estimator"
numeric value of the estimated coefficient for a dummy variable in a semi-logarithmic regression
numeric value of the variance of this estimated coefficient
Given a semi-logarithmic regression with a dummy variable and its estimated
coefficient c
with a variance v
, the consistent and almost
unbiased estimator proposed by Kennedy is computed as
k = exp(c) / exp(v / 2) - 1