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Re: st: RE: Goodness of fit measure akin to R-squared for 0-constant or noconstant


From   Kit Baum <baum@bc.edu>
To   statalist@hsphsun2.harvard.edu
Subject   Re: st: RE: Goodness of fit measure akin to R-squared for 0-constant or noconstant
Date   Sat, 25 Apr 2009 06:00:32 -0400

<>
This seems very much at odds with a stylised fact about India: in that country gold jewellery has traditionally been a store of wealth, not just ornamentation, and often makes up a large fraction of a dowry in traditional segments of society. This applies not merely to the most wealthy class but to those farther down the economic ladder who manage to save over time. I would expect that India would differ from many other countries in which it is less likely to hold a significant fraction of household wealth in the form of gold jewellery. See for example

http://ideas.repec.org/p/amu/wpaper/0907.html

in which they mention 'strong cultural valuation of gold' with regard to China and India.

Kit Baum   |   Boston College Economics & DIW Berlin   |   http://ideas.repec.org/e/pba1.html
An Introduction to Stata Programming | http://www.stata-press.com/books/isp.html
   An Introduction to Modern Econometrics Using Stata  |   http://www.stata-press.com/books/imeus.html



On Apr 25, 2009, at 02:33 , Bas wrote:

Well, the point you made Martin,
shows a very interesting aspect of India, which is its incredibly
strong class society. The top class, which apparently makes up almost
all jewellery demand appears unaffected by the state of the economy.

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