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Alternative Measures of the Explanatory Power of Multivariate Probit Models with Continuous or Ordinal Responses

Spieß, Martin; Tutz, Gerhard - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2002

In this paper R2-type measures of the explanatory power of multivariate linear and categorical probit models proposed in the literature are reviewed and their deficiencies are discussed. It is argued that a measure of the explanatory power should take into account the components which are...

Persistent link: https://www.econbiz.de/10004963825

GEE Estimation of a Two-Equation Panel Data Model: An Analysis of Wage Dynamics and the Incidence of Profit-Sharing in West Germany

Pannenberg, Markus; Spieß, Martin - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2007

We propose a generalized estimating equations approach to the analysis of the mean and the covariance structure of a bivariate time series process of panel data with mixed continuous and discrete dependent variables. The approach is used to jointly analyze wage dynamics and the incidence of...

Persistent link: https://www.econbiz.de/10005068845

Energy Consumption and Economic Growth: New Insights into the Cointegration Relationship

Belke, Ansgar; Dreger, Christian; Haan, Frauke de - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010

This paper examines the long-run relationship between energy consumption and real GDP, including energy prices, for 25 OECD countries from 1981 to 2007. The distinction between common factors and idiosyncratic components using principal component analysis allows to distinguish between...

Persistent link: https://www.econbiz.de/10008568246

Do Wealthier Households Save More?: The Impact of the Demographic Factor

Belke, Ansgar; Dreger, Christian; Ochmann, Richard - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2012

the savings rate is not homogeneous. On average, the effect attributed to real estate dominates the other components of … wealth. In addition, the savings rate strongly responds to demographic trends. Besides the direct impact of the age structure …, an indirect effect arises through the accumulation of wealth. The savings rate does not decrease with age in a monotonic …

Persistent link: https://www.econbiz.de/10010551077