Inflated Ordered Outcomes
AbstractWe extend Harris and Zhao (2007) by proposing a (Panel) Inflated Ordered Probit model, and demonstrate its usefulness by applying it to Bank of England Monetary Policy Committee voting data.
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Bibliographic InfoPaper provided by Department of Economics, Loughborough University in its series Discussion Paper Series with number 2012_09.
Date of creation: Oct 2012
Date of revision: Oct 2012
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More information through EDIRC
Panel Inflated Ordered Probit; random effects; inflated outcomes; voting; Monetary Policy Committee;
Other versions of this item:
- E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
- C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-10-27 (All new papers)
- NEP-CDM-2012-10-27 (Collective Decision-Making)
- NEP-ECM-2012-10-27 (Econometrics)
- NEP-MAC-2012-10-27 (Macroeconomics)
- NEP-MON-2012-10-27 (Monetary Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Mark N. Harris & Christopher Spencer, 2009. "The Policy Choices and Reaction Functions of Bank of England MPC Members," Southern Economic Journal, Southern Economic Association, vol. 76(2), pages 482-499, October.
- Harris, Mark N. & Zhao, Xueyan, 2007. "A zero-inflated ordered probit model, with an application to modelling tobacco consumption," Journal of Econometrics, Elsevier, vol. 141(2), pages 1073-1099, December.
- Timothy Besley & Neil Meads & Paolo Surico, 2008.
"Insiders versus outsiders in monetary policymaking,"
LSE Research Online Documents on Economics
33743, London School of Economics and Political Science, LSE Library.
- Timothy Besley & Neil Meads & Paolo Surico, 2008. "Insiders versus Outsiders in Monetary Policymaking," American Economic Review, American Economic Association, vol. 98(2), pages 218-23, May.
- Besley, Timothy & Meads, Neil & Surico, Paolo, 2007. "Insiders versus Outsiders in Monetary Policy-Making," Discussion Papers 20, Monetary Policy Committee Unit, Bank of England.
- Budd, Alan, 1998. "The Role and Operations of the Bank of England Monetary Policy Committee," Economic Journal, Royal Economic Society, vol. 108(451), pages 1783-94, November.
- Petra Gerlach-Kristen, 2009. "Outsiders at the Bank of England's MPC," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(6), pages 1099-1115, 09.
- Fabiani, Silvia & Druant, Martine & Hernando, Ignacio & Kwapil, Claudia & Landau, Bettina & Loupias, Claire & Martins, Fernando & Matha, Thomas & Sabbatini, Roberto & Stahl, Harald & Stokman, Ad, 2006.
"What Firms' Surveys Tell Us about Price-Setting Behavior in the Euro Area,"
808, University Library of Munich, Germany.
- Silvia Fabiani & Martine Druant & Ignacio Hernando & Claudia Kwapil & Bettina Landau & Claire Loupias & Fernando Martins & Thomas Mathä & Roberto Sabbatini & Harald Stahl & Ad Stokman, 2006. "What Firms' Surveys Tell Us about Price-Setting Behavior in the Euro Area," International Journal of Central Banking, International Journal of Central Banking, vol. 2(3), September.
- Aoki, Kosuke, 2003. "On the optimal monetary policy response to noisy indicators," Journal of Monetary Economics, Elsevier, vol. 50(3), pages 501-523, April.
- William H Greene & Mark N Harris & Christopher Spencer, 2013.
"Estimating the Standard Errors of Individual-Specific Parameters in Random Parameters Models,"
Bankwest Curtin Economics Centre Working Paper series
WP1309, Bankwest Curtin Economics Centre (BCEC), Curtin Business School.
- William Greene & Mark N Harris & Christopher Spencer, 2014. "Estimating the Standard Errors of Individual-Specific Parameters in Random Parameters Models," Discussion Paper Series 2014_01, Department of Economics, Loughborough University, revised Jan 2014.
- "Belderbos, Rene & Ikeuchi, Kenta & Fukao, Kyoji & Kim, Young Gak & Kwon, Hyeog Ug, 2013. "Plant Productivity Dynamics and Private and Public R&D Spillovers: Technological, Geographic and Relational Proximity," CEI Working Paper Series 2013-05, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
- William H.Greene & Max Gillman & Mark N. Harris & Christopher Spencer, 2013.
"The Tempered Ordered Probit (TOP) model with an application to monetary policy,"
Discussion Paper Series
2013_10, Department of Economics, Loughborough University, revised Sep 2013.
- Greene, William H. & Gillman, Max & Harris, Mark N. & Spencer, Christopher, 2013. "The Tempered Ordered Probit (TOP) Model with an Application to Monetary Policy," CEI Working Paper Series 2013-04, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
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