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The portfolio structure of German households : a multinomial fractional response approach with unobserved heterogeneity

Becker, Gideon - 2014 - This draft: September 1, 2014

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

Nonlinear state-space models for microeconometric panel data

Heiss, Florian - 2006

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

Qual VAR revisited : good forecast, bad story

Shagi, Makram el-; Schweinitz, Gregor von - 2012

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

Employment dynamics in the Romanian labor market : a Markov chain Monte Carlo approach

Voicu, Alexandru - 2002

Markov decision processes. The resulting multivariate probit models are estimated using Markov Chain Monte Carlo techniques. …

Persistent link: https://www.econbiz.de/10011406632

Alternative measures of the explanatory power of multivariate probit models with continuous or ordinal responses

Spiess, Martin; Tutz, Gerhard - 2002

In this paper R2-type measures of the explanatory power of multivariate linear and categorical probit models proposed … indifferent to components not explicitely modeled. Based on this view three different measures for multivariate probit models are … proposed. Results of a simulation study are presented designed to compare two measures in various situations and evaluate the …

Persistent link: https://www.econbiz.de/10010260799

Joint Labour Supply Dynamics of Older Couples

Michaud, Pierre-Carl - 2003

simulation exercise presents evidence that the elimination of the spouse allowance can raise participation of wives at age 62 by …

Persistent link: https://www.econbiz.de/10010261564

How damaging is part-time employment to a woman's occupational prospects?

Prowse, Victoria (contributor) - 2005

This paper investigates the causes of the well documented association between part-time employment and low occupational attainment amongst British women. In particular, the relative importance of structural factors and unobserved heterogeneity to the occupational attainment of women who choose...

Persistent link: https://www.econbiz.de/10003011504

State dependence in a multi-state model of employment dynamics

Prowse, Victoria (contributor) - 2005

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

Measuring peer effects on youth smoking behavior

Nakajima, Ryo (contributor) - 2004 - [Elektronische Ressource]

This paper examines the role of peer effects in smoking behavior using data of middle and high school students in the United States. I present a random utility model that explicitly incorporates complementarity between individual and peer smokings. A Markov process model of smoking interactions...

Persistent link: https://www.econbiz.de/10001990751

What is the Cost of Low Participation in French Timber Auctions?

Preget, Raphaele - 2010

How much is the timber from public forests worth? How can the Public Forest Service define a fair market price for standing timber lots? What is the cost of low participation in French timber auctions? To estimate the value of a timber lot we adopt the transaction-evidence appraisal approach...

Persistent link: https://www.econbiz.de/10013138545