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Heteroscedastic Probit Model: An Application Of Home Ownership In Turkey

  • ÇAGLAYAN, Ebru
  • UN, Turgut
Registered author(s):

    This study examines the factors affecting the possibility of owning a house in Turkey using probit models. Moreover, it focuses on the heteroscedasticity problem that is ignored in most of the probit applications. The results obtained from the study indicate that besides the demographic characteristics of the head of the household, education, employment, and income are also influential factors in regard to home ownership. Besides these things, evidence indicates that the choice to live in either rural or urban areas has a significant impact on home ownership.

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    Article provided by Euro-American Association of Economic Development in its journal Regional and Sectoral Economic Studies.

    Volume (Year): 12 (2012)
    Issue (Month): 2 ()
    Pages:

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    Handle: RePEc:eaa:eerese:v:12:y2012:i:2_8
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    1. Deng, Yongheng & Ross, Stephen L. & Wachter, Susan M., 2003. "Racial differences in homeownership: the effect of residential location," Regional Science and Urban Economics, Elsevier, vol. 33(5), pages 517-556, September.
    2. John Y. Campbell & Joao F. Cocco, 2005. "How Do House Prices Affect Consumption? Evidence From Micro Data," Harvard Institute of Economic Research Working Papers 2083, Harvard - Institute of Economic Research.
    3. Boehm, Thomas P. & Schlottmann, Alan M., 2004. "The dynamics of race, income, and homeownership," Journal of Urban Economics, Elsevier, vol. 55(1), pages 113-130, January.
    4. Aiyagari, S Rao, 1994. "Uninsured Idiosyncratic Risk and Aggregate Saving," The Quarterly Journal of Economics, MIT Press, vol. 109(3), pages 659-84, August.
    5. Bart Capeau & André Decoster & Frederic Vermeulen, 2003. "Homeownership and the Life Cycle: an Ordered Logit Approach," Center for Economic Studies - Discussion papers ces0308, Katholieke Universiteit Leuven, Centrum voor Economische Studiën.
    6. Litchfield, Julie & Reilly, Barry & Veneziani, Mario, 2012. "An analysis of life satisfaction in Albania: An heteroscedastic ordered probit model approach," Journal of Economic Behavior & Organization, Elsevier, vol. 81(3), pages 731-741.
    7. Yatchew, Adonis & Griliches, Zvi, 1985. "Specification Error in Probit Models," The Review of Economics and Statistics, MIT Press, vol. 67(1), pages 134-39, February.
    8. Wilde, Joachim, 2008. "A simple representation of the Bera-Jarque-Lee test for probit models," Economics Letters, Elsevier, vol. 101(2), pages 119-121, November.
    9. Li, Mingche M, 1977. "A Logit Model of Homeownership," Econometrica, Econometric Society, vol. 45(5), pages 1081-97, July.
    10. Bera, Anil K & Jarque, Carlos M & Lee, Lung-Fei, 1984. "Testing the Normality Assumption in Limited Dependent Variable Models," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 25(3), pages 563-78, October.
    11. Goodman, Allen C., 1990. "Demographics of individual housing demand," Regional Science and Urban Economics, Elsevier, vol. 20(1), pages 83-102, June.
    12. Galor, Oded & Stark, Oded, 1990. "Migrants' Savings, the Probability of Return Migration and Migrants' Performance," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 31(2), pages 463-67, May.
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