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This paper compares two approaches to analyzing longitudinal discrete-time binary outcomes. Dynamic binary response models focus on state occupancy and typically specify low-order Markovian state dependence. Multi-spell duration models focus on transitions between states and typically allow for...
Persistent link: https://www.econbiz.de/10012025722
In many microeconometric models we use distances. For instance, in modelling the individual behavior in labor economics or in health studies, the distance from a relevant point of interest (such as a hospital or a workplace) is often used as a predictor in a regression framework. However, in...
Persistent link: https://www.econbiz.de/10011411576
This paper discusses how specification of probabilistic models for multistate duration data generated by individual choices should be justified on a priori theoretical grounds. Preferences are assumed represented by random utilities, where utilities are viewed as random also to the agent...
Persistent link: https://www.econbiz.de/10009536460
We study the identification and estimation of structural parameters in dynamic panel data logit models where decisions are forward-looking and the joint distribution of unobserved heterogeneity and observable state variables is nonparametric, i.e., fixed-effects model. We consider models with...
Persistent link: https://www.econbiz.de/10012919609
This paper examines dynamic binary response and multi-spell duration model approaches to analyzing longitudinal discrete-time binary outcomes. Prototypical dynamic binary response models specify low-order Markovian state dependence and restrict the effects of observed and unobserved...
Persistent link: https://www.econbiz.de/10012999209
illustration is provided wherein U.S. unemployment forecasts are constructed using both classical principal components based …
Persistent link: https://www.econbiz.de/10009766691
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leading business cycle indicators in Russia and Germany. -- adaptive lasso ; elastic net ; forecasting ; genetic algorithms …
Persistent link: https://www.econbiz.de/10009630302
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