Fixed effects maximum likelihood estimation of a flexibly parametric proportional hazard model with an application to job exits
AbstractWe extend the fixed effects maximum likelihood estimator to a proportional hazard model with a flexibly parametric baseline hazard. We use the method to estimate a job duration model for young men, and show that failure to account for unobserved fixed effects causes negative schooling and union effects to be downward biased.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 116 (2012)
Issue (Month): 2 ()
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Web page: http://www.elsevier.com/locate/ecolet
Proportional hazard model; Fixed effects; Job mobility; Causal schooling effects;
Other versions of this item:
- Audrey Light & Yoshiaki Omori, 2012. "Fixed Effects Maximum Likelihood Estimation of a Flexibly Parametric Proportional Hazard Model with an Application to Job Exits," Working Papers 12-03, Ohio State University, Department of Economics.
- C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
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