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A Monte Carlo evaluation of discrete choice labour supply models

  • Lennart Flood
  • Nizamul Islam

This paper is based on a Monte Carlo simulation in order to evaluate the properties of the discrete labour supply model. The data is generated by a continuous model and a discrete choice model is estimated assuming a translog utility function. The robustness of the results for different number of points in the discrete choice set, as well as for measurement errors in income and hours are compared. The discrete model produces similar results as the 'true' continuous model and apart from large measurement errors in hours these results are robust.

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Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

Volume (Year): 12 (2005)
Issue (Month): 5 ()
Pages: 263-266

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Handle: RePEc:taf:apeclt:v:12:y:2005:i:5:p:263-266
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  1. Blomquist, N.S., 1992. "Estimation Methods for Male Labor Supply Functions: How to take Account to Taxes," Papers 1992-7, Uppsala - Working Paper Series.
  2. Van Soest, A., 1992. "Discrete Choice Models of Family Labour Supply," Papers 9214, Tilburg - Center for Economic Research.
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  5. Hoynes, Hilary Williamson, 1996. "Welfare Transfers in Two-Parent Families: Labor Supply and Welfare Participation under AFDC-UP," Econometrica, Econometric Society, vol. 64(2), pages 295-332, March.
  6. Keane, Michael & Moffitt, Robert, 1998. "A Structural Model of Multiple Welfare Program Participation and Labor Supply," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(3), pages 553-89, August.
  7. Kapteyn, A.J. & Kooreman, P. & van Soest, A.H.O., 1989. "Quantity rationing and concavity in a flexible household labor supply model," Discussion Paper 1989-16, Tilburg University, Center for Economic Research.
  8. Gourieroux, Christian & Monfort, Alain, 1993. "Simulation-based inference : A survey with special reference to panel data models," Journal of Econometrics, Elsevier, vol. 59(1-2), pages 5-33, September.
  9. van Soest, A.H.O. & Das, J.W.M. & Gong, X., 2001. "A Structural Labour Supply Model with Flexible Preferences," Other publications TiSEM 07a46b83-f128-4ea5-8498-9, Tilburg University, School of Economics and Management.
  10. R. E. Hall, 1970. "Wages, Income and Hours of Work in the U. S. Labor Force," Working papers 62, Massachusetts Institute of Technology (MIT), Department of Economics.
  11. Blundell, Richard & Macurdy, Thomas, 1999. "Labor supply: A review of alternative approaches," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 27, pages 1559-1695 Elsevier.
  12. Ericson, Peter & Flood, Lennart, 1997. "A Monte Carlo Evaluation of Labor Supply Models," Empirical Economics, Springer, vol. 22(3), pages 431-60.
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