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Some Generalized Mixture Distributions with an Application to Unemployment Duration

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  • McDonald, James B
  • Butler, Richard J

Abstract

Compounding or mixture distributions provide a rich class of models for applications ranging from models of heterogeniety, measurement error, distribution of stock returns and income to models of unemployment duration. Some very general mixtures are considered which include many new mixture models and also provide a unified method of organizing and comparing previously considered models as well as a test of heterogeneity. These models are used to analyze CPS unemployment duration data. A heterogeniety interpretation of the mixture models explains the discrepancy between implications of search theory and patterns observed in aggregate unemployment data. Copyright 1987 by MIT Press.

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Bibliographic Info

Article provided by MIT Press in its journal Review of Economics & Statistics.

Volume (Year): 69 (1987)
Issue (Month): 2 (May)
Pages: 232-40

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Handle: RePEc:tpr:restat:v:69:y:1987:i:2:p:232-40

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Web page: http://mitpress.mit.edu/journals/

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Web: http://mitpress.mit.edu/journal-home.tcl?issn=00346535

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Cited by:
  1. Fischer, Matthias J., 2000. "The folded EGB2 distribution and its application to financial return data," Discussion Papers 32/2000, Friedrich-Alexander-University Erlangen-Nuremberg, Chair of Statistics and Econometrics.
  2. Corrado Di Guilmi & Edoardo Gaffeo & Mauro Gallegati & Antonio Palestrini, 2004. "International evidence on business cycle magnitude dependence," Papers cond-mat/0401495, arXiv.org.
  3. Shi, Peng & Valdez, Emiliano A., 2011. "A copula approach to test asymmetric information with applications to predictive modeling," Insurance: Mathematics and Economics, Elsevier, vol. 49(2), pages 226-239, September.
  4. Brian W. Gould, 1996. "Consumer Promotion and Purchase Timing: The Case of Cheese," Wisconsin-Madison Agricultural and Applied Economics Staff Papers 396, Wisconsin-Madison Agricultural and Applied Economics Department.
  5. Dong, A.X.D. & Chan, J.S.K., 2013. "Bayesian analysis of loss reserving using dynamic models with generalized beta distribution," Insurance: Mathematics and Economics, Elsevier, vol. 53(2), pages 355-365.
  6. Jones, A. & Lomas, J. & Rice, N., 2011. "Applying Beta-type Size Distributions to Healthcare Cost Regressions," Health, Econometrics and Data Group (HEDG) Working Papers 11/31, HEDG, c/o Department of Economics, University of York.
  7. Brian GOULD, 1996. "Consumer Promotion And Purchase Timing: The Case Of Cheese," Staff Papers 396, University of Wisconsin Madison, AAE.

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