Simulation-based inference in dynamic panel probit models: An application to health
AbstractThis paper considers the determinants of a binary indicator for the existence of functional limitations using seven waves (1991–1997) of the British Household Panel Survey (BHPS). The focal point of our analysis is the contributions of state dependence, heterogeneity and serial correlation in explaining the dynamics of health. To investigate these issues we apply static and dynamic panel probit models with flexible error structures. To estimate the models we use maximum simulated likelihood (MSL) with antithetic acceleration and implement a recently proposed test for the existence of asymptotic bias. The dynamic models show strong positive state dependence. Copyright Springer-Verlag 2004
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Bibliographic InfoArticle provided by Springer in its journal Empirical Economics.
Volume (Year): 29 (2004)
Issue (Month): 1 (January)
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Other versions of this item:
- Paul Contoyannis & Andrew M. Jones & Nigel Rice, 2002. "Simulation-based Inference in Dynamic Panel Probit Models: an Application to Health," Department of Economics Working Papers 2002-12, McMaster University.
- I10 - Health, Education, and Welfare - - Health - - - General
- C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
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