Showing 1 - 10 of 11,118
In the paper we describe in detail how to build linked CGE-microsimulation models (using fictitious data) following … the three models. Results show that all three approaches yield different results especially in terms of income … distribution and poverty, although analysed within the same economy and under the same policy simulation. We then analyse in more …
Persistent link: https://www.econbiz.de/10014047326
We discuss computational issues in the sequential probit model that have limited its use in applied research. We estimate parameters of the model by the method of simulated likelihood and by Bayesian MCMC algorithms. We provide Monte Carlo evidence on the relative performance of both estimators....
Persistent link: https://www.econbiz.de/10014071383
The paper derives analytical transitions probabilities following an exogenous shock to the deterministic component in the conditional logit model. The solution draws on the postestimation distribution of the model's stochastic component, identified on the basis of a direct utility maximization...
Persistent link: https://www.econbiz.de/10013319505
A multinomial choice framework is used to investigate the nature of women's transitions between full-time employment, part-time employment and non-employment. The stochastic framework allows time varying and time invariant unobserved preferences, and also controls for the possible endogeneity of...
Persistent link: https://www.econbiz.de/10002853341
Current research practices include estimation of latent class logits on data collected with discrete choice experiments. This practice relies on a mismatch in the characterization of heterogeneity in preferences: while discrete choice experiments usually assume homogeneity, latent class logits...
Persistent link: https://www.econbiz.de/10013027757
This paper applies a Qual VAR approach to generate a continuous banking crisis indicator from an underlying latent variable using a Markov Chain Monte Carlo algorithm. Four decades of banking crises are assessed by accounting for the evolutionary nature of precursors, as measured through...
Persistent link: https://www.econbiz.de/10014235526
Due to the recent financial crisis, the interest in econometric models that allow to incorporate binary variables (such …
Persistent link: https://www.econbiz.de/10009680970
discrete choice models. We construct and estimate a simplified dynamic structural model of education that captures some basic …
Persistent link: https://www.econbiz.de/10010418037
What determines the risk structure of financial portfolios of German households? In this paper we estimate the determinants of the share of financial wealth invested in three broad risk classes. We employ a new econometric approach - the so called fractional multinomial logit model - which...
Persistent link: https://www.econbiz.de/10010426240
most prevalent structures to account for intertemporal correlations in limited dependent variable models. An example from … models - and a broader class formulated in the framework of nonlinear state space models - hampers their widespread use. This … models and suggests that a straightforward algorithm based on sequential Gaussian quadrature can be expected to perform well …
Persistent link: https://www.econbiz.de/10010439378