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Using Survival Analysis In Economics

Author

Listed:
  • Daniela-Emanuela Danacica

    () (Faculty of Economics and Business Administration, Constantin Brancusi University of Tirgu-Jiu)

  • Ana-Gabriela Babucea

    () (Faculty of Economics and Business Administration, Constantin Brancusi University of Tirgu-Jiu)

Abstract

The main objective of this paper is to examine methodological and applicative problems of sur-vival analysis in the analysis of socio-economic phenomena. Although at the beginning the survival analysis was used to study death as an event specific to medical studies, as from the '70s these statistical techniques have been increasingly used in economics and social sciences. Besides the fact that survival data are not normally distributed, they often contain incomplete information, censored subjects. Censoring of subjects may be on the right or left. It is vital to include censored subjects in the statistical analysis. But, according to Greene (2003), a very large number of censored subjects may affect the accuracy of statistical tests. We presented in this paper methodological aspects of Kaplan-Meier analysis, and statistical significance testing for the resulted survival curves. We have also concentrated on the Cox regression, and we have set out the concept of hazard, baseline hazard, hazard rate, hazard rate interpretation. An application of the survival analy-sis in unemployment is presented.

Suggested Citation

  • Daniela-Emanuela Danacica & Ana-Gabriela Babucea, 2010. "Using Survival Analysis In Economics," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 57, pages 439-450, november.
  • Handle: RePEc:aic:journl:y:2010:v:57:p:439-450
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    Citations

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    Cited by:

    1. Pişkin, Erhan, 2017. "Türkiye İhracatının Ölüm-Kalım Meselesi
      [The Matter of Survival for Turkish Exports]
      ," MPRA Paper 81459, University Library of Munich, Germany.
    2. repec:ovi:oviste:v:xvii:y:2017:i:1:p:155-161 is not listed on IDEAS

    More about this item

    Keywords

    survival analysis; Kaplan-Meier method; censored subjects;

    JEL classification:

    • C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure

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