Assessing household health expenditure with Box-Cox censoring models
In order to assess the combined presence of zero expenditures and a heavily skewed distribution of positive expenditures, the Box-Cox transformation with location parameter is used to define a set of models generalising the standard Tobit, Heckman selection and double-hurdle models. Extended flexibility with respect to previous specifications is introduced, notably regarding negative transformation parameters, which may prove necessary for medical expenditures, and corner-solution outcomes. An illustration is provided by the analysis of household health expenditure in Switzerland. Copyright © 2005 John Wiley & Sons, Ltd.
Year of publication: |
2005
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Authors: | Chaze, Jean-Paul |
Published in: |
Health Economics. - John Wiley & Sons, Ltd., ISSN 1057-9230. - Vol. 14.2005, 9, p. 893-907
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Publisher: |
John Wiley & Sons, Ltd. |
Saved in:
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