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Characterization and Measurement of Duration Dependence in Hazard Rates Models

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Author Info
Aaberge, Rolf () (The Ragnar Frisch Centre for Economic Research)

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Abstract

As is known from the economic literature, the notion of negative/positive duration dependence defined in terms of a decreasing/increasing hazard function can solely be used as a basis for revealing whether negative/positive duration dependence is present or not. However, when concern is directed to comparison and measurement of the extent of duration dependence in hazard rate models alternative definitions and methods are called for. To this end we propose a stronger as well as a weaker version of the standard definition of duration dependence and demonstrate that these definitions form a useful basis for developing appropriate duration dependence orderings and summary measures of duration dependence.

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File URL: http://www.oekonomi.uio.no/memo/memopdf/memo0702.pdf
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Publisher Info
Paper provided by Oslo University, Department of Economics in its series Memorandum with number 07/2002.

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Length: 28 pages
Date of creation: 16 Jun 2003
Date of revision:
Handle: RePEc:hhs:osloec:2002_007

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Postal: Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway
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Related research
Keywords: Hazard rate models duration dependence orderings summary measures of duration dependence the Weibull distribution PH and MPH models

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Find related papers by JEL classification:
J64 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment: Models, Duration, Incidence, and Job Search

References listed on IDEAS
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  5. Flinn, Christopher J & Heckman, James J, 1983. "Are Unemployment and Out of the Labor Force Behaviorally Distinct Labor Force States?," Journal of Labor Economics, University of Chicago Press, vol. 1(1), pages 28-42, January. [Downloadable!] (restricted)
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  6. Ridder, Geert, 1990. "The Non-parametric Identification of Generalized Accelerated Failure-Time Models," Review of Economic Studies, Blackwell Publishing, vol. 57(2), pages 167-81, April. [Downloadable!] (restricted)
  7. Kiefer, Nicholas M, 1988. "Economic Duration Data and Hazard Functions," Journal of Economic Literature, American Economic Association, vol. 26(2), pages 646-79, June. [Downloadable!] (restricted)
  8. Jovanovic, Boyan, 1979. "Job Matching and the Theory of Turnover," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 972-90, October. [Downloadable!] (restricted)
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  9. Heckman, James J. & Singer, Burton, 1986. "Econometric analysis of longitudinal data," Handbook of Econometrics, in: Z. Griliches† & M. D. Intriligator (ed.), Handbook of Econometrics, edition 1, volume 3, chapter 29, pages 1689-1763 Elsevier. [Downloadable!] (restricted)
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