Modelling the incidence of self-employment has traditionally proved problematic. Whilst the individual supply side characteristics of the self-employed are well documented, the literature has largely neglected (or misspecified) demand side aspects. In this paper we present results from an...

This research proposes that, in cases where threshold covariates are either unavailable or difficult to observe, practitioners should treat these characteristics as latent, and use simulated maximum likelihood techniques to control for them. Two econometric frameworks for doing so in a more...

Data for discrete ordered random variables are often characterised by "excessive" zero observations. Traditional ordered probit models have limited capacity in explaining the preponderance of zero observations, especially when the zeros may relate to two distinct situations of non-participation...

This paper conducts a Monte Carlo analysis of the size and power properties of combining choice set partition tests of the IIA property of the Logit model. On the basis of this comparison we recommend that applied researchers testing for IIA calculate all versions of the McFadden, Train and Tye...

This paper conducts a Monte Carlo analysis of the size properties of combining choice set partition tests of the independence of irrelevant alternatives property in the Logit model in the four alternatives setting. Most of the tests have poor size properties. The exception is a version of the...

The paper extends the literature on financial development, inflation, and growth by using the idea that both the rates of return on physical and human capital affect growth. This leads to the introduction of the investment rate into the model, as a proxy for the return to physical capital, along...

At present, there appears to be no qualitative dependent model that can simultaneously account for data sets in which the variable of interest is potentially ordered but also has strong heterogeneity of the observed outcomes. This heterogeneity of particular outcomes, inherently attracts...

The paper presents panel data evidence for 13 transition countries on inflation, financial development and growth. It contributes to the growth literature by showing that the transition countries conform to developed country evidence in particular with the strong negative effect of inflation on...

This paper considers the long-run effects of BSE on meat consumption in the United Kingdom using data from the Expenditure and Food Survey. We estimate a dynamic AIDS demand system of household food consumption, with long-run effects captured via an adstock index of adverse media coverage. The...