The Joint Estimation of a Non-Linear Labour Supply Function and a Wage Equation Using Simulated Response Probabilities
AbstractWhen applying maximum likelihood estimation in jointly estimating a labour supply function and a wage equation, it may be practically impossible, both analytically and numerically, to calculate the required response probabilities, especially if the model is non-linear. As an alternative, we consider various simulation estimators. In both Monte Carlo experiments and empirical applications the methods are compared to each other and to ML. The methods are computationally feasible and perform well.
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Bibliographic InfoArticle provided by ENSAE in its journal Annals of Economics and Statistics.
Volume (Year): (1993)
Issue (Month): 29 ()
Other versions of this item:
- Bloemen, H.G. & Kapteyn, A.J., 1993. "The joint estimation of a non-linear labour supply function and a wage equation using simulated response probabilites," Open Access publications from Tilburg University urn:nbn:nl:ui:12-364724, Tilburg University.
- Bloemen, H.G. & Kapteyn, A.J., 1992. "The joint estimation of a non-linear labour supply function and a wage equation using simulated response probabilities," Discussion Paper 1992-29, Tilburg University, Center for Economic Research.
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- Vanessa Brechling & Stephen Smith, 1994. "Household energy efficiency in the UK," Fiscal Studies, Institute for Fiscal Studies, vol. 15(2), pages 44-56, May.
- Bloemen, H.G. & Kapteyn, A.J., 1993.
"The estimation of utility consistent labor supply models by means of simulated scores,"
1993-67, Tilburg University, Center for Economic Research.
- Hans G. Bloemen & Arie Kapteyn, 2008. "The estimation of utility-consistent labor supply models by means of simulated scores," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 23(4), pages 395-422.
- Bloemen, H.G. & Kapteyn, A., 1993. "The Estimation of Utility Consistent Labor Supply Models by Means of Simulated Scores," Papers 9367, Tilburg - Center for Economic Research.
- Bloemen, Hans G. & Kapteyn, Arie, 2003. "The estimation of utility consistent labor supply models by means of simulated scores," Serie Research Memoranda 0019, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Bousquet, Alain & Ivaldi, Marc, 1998.
"An individual choice model of energy mix,"
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Elsevier, vol. 20(3), pages 263-286, September.
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