20 Simulation estimation for panel data models with limited dependent variables

Keane, Michael P.

doi:10.1016/s0169-7161(05)80055-0

Cited by 93 publications

(97 citation statements)

References 26 publications

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“…Equivalently, temporary policies incentivizing women to move into either full-time or part-time work will affect women's employment behavior beyond the duration of the policy. This is in line with existing work on dynamic labor supply including Keane (1993) and Hyslop (1999). Additionally, and in contrast to existing dynamic binary models of labor force participation, our generalized model also allows us to exploit the multinomial structure to draw conclusions about the relative effectiveness of temporary policies incentivizing jobs with different hours of work.…”

Section: Introductionsupporting

confidence: 61%

“…A number of other studies report similar results, see inter alia, Booth et al (1999) and Heckman and Willis (1977). Keane (1993) provided the first model of labor force participation with autocorrelated unobservables, while Hyslop (1999) extended the literature further by allowing both autocorrelated unobservables and correlated random effects, operationalized by including non-contemporaneous measures of observed individuals characteristics, including measures of fertility at different points in the life-cycle. Keane and Sauer (-) in turn extend the work of Hyslop (1999) by including classification error in the dependent variable along with an alternative treatment of the initial conditions.…”

Section: Introductionmentioning

confidence: 61%

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Modeling Employment Dynamics With State Dependence and Unobserved Heterogeneity

Prowse

2012

Journal of Business & Economic Statistics

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. www.econstor.eu The Institute for the Study of Labor (IZA) in Bonn is a local and virtual international research center and a place of communication between science, politics and business. IZA is an independent nonprofit organization supported by Deutsche Post Foundation. The center is associated with the University of Bonn and offers a stimulating research environment through its international network, workshops and conferences, data service, project support, research visits and doctoral program. IZA engages in (i) original and internationally competitive research in all fields of labor economics, (ii) development of policy concepts, and (iii) dissemination of research results and concepts to the interested public. Terms of use: Documents in D I S C U S S I O N P A P E R S E R I E SIZA Discussion Papers often represent preliminary work and are circulated to encourage discussion. Citation of such a paper should account for its provisional character. A revised version may be available directly from the author. The results reveal significant autocorrelation in unobservables, and significant variation in the effects of children and education on labor supply preferences. Moreover, omission of random coeffcients or autocorrelation can bias significantly estimates of policy effects. On average, policies temporarily incentivizing part-time and full-time employment are equally effective tools for reducing non-employment. However, non-employment among women with young children is more responsive to policies encouraging part-time rather than full-time work.JEL Classification: C15, C25, J6, J22

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Section: Introductionsupporting

confidence: 61%

Section: Introductionmentioning

confidence: 61%

Modeling Employment Dynamics With State Dependence and Unobserved Heterogeneity

Prowse

2012

Journal of Business & Economic Statistics

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“…Among these, inventory is an endogenous state variable while price and store visits are exogenous state variables. Due to the complexity of the dynamic programming problem, we adopt simulated maximum likelihood techniques employing Monte Carlo methods (Keane 1993) in addition to the interpolation method (Keane and Wolpin 1994) to estimate the model, which significantly reduces the computational burden and makes the endogenization of consumption possible. 10…”

Section: Heterogeneity and Estimationmentioning

confidence: 99%

Promotion Effect on Endogenous Consumption

Sun

2005

Marketing Science

147

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Over the years, researchers have found that promotion makes consumers switch brands and purchase earlier or more. However, it is unclear how promotion affects consumption, especially for product categories that are perceived to be versatile and substitutable. In this paper, we propose a dynamic structural model with endogenousconsumption under promotion uncertainty to analyze the promotion effect on consumption. This model recognizes consumers as rational decision makers who form promotion expectations and plan their purchase and consumption decisions in light of promotion schedules. Applying the proposed model to packaged tuna, we find that endogenous consumption responds to promotion as a result of forward-looking and stockpiling behavior. This finding has important implications for managers who plan to better take advantage of the promotion effect on consumption. This is the first empirical paper that recognizes consumption as an endogenous decision variable and proposes a structural model, which offers behavioral explanations on whether, how and why promotion encourages consumption for product categories with elastic consumption.

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“…In particular, such techniques may now be used routinely for data analysis. Important developments in this area include the use of bootstrap techniques for improving standard asymptotic approximations [for reviews, see Efron (1982), Beran and Ducharme (1991), Efron and Tibshirani (1993), Hall (1992), Jeong and Maddala (1993), Vinod (1993), Shao and Tu (1995), Davison and Hinkley (1997), Chernick (1999) and Horowitz (1997)] and techniques where estimators and forecasts are obtained from criteria evaluated by simulation [see McFadden (1989), Mariano and Brown (1993), Hajivassiliou (1993), Keane (1993), Gouriéroux and Monfort (1996) and Gallant and Tauchen (1996)]. …”

Section: Introductionmentioning

confidence: 99%