Estimating engel curves : a generalisation of the P-Tobit model
Cross-section demand relationships are usually estimated using data from short-duration expenditure surveys. The interpretation of such observations is not straightforward, since a zero recorded expenditure may understate true demand and a positive expenditure overstates demand. Deaton and Irish have recently proposed and applied the P- Tobit technique to deal with this problem, but with little success. The present paper specifies a generalisation of their model and applies alternative estimators to two different sets of UK survey data.
Volume (Year): 1 (1988)
Issue (Month): 2 (Autumn)
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- Blundell, Richard & Meghir, Costas, 1987. "Bivariate alternatives to the Tobit model," Journal of Econometrics, Elsevier, vol. 34(1-2), pages 179-200.
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- Waldman, Donald M., 1985. "Computation in duration models with heterogeneity," Journal of Econometrics, Elsevier, vol. 28(1), pages 127-134, April.
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