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Working Paper 14-17 - Modelling unobserved heterogeneity in distribution - Finite mixtures of the Johnson family of distributions

Author

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  • Peter Willemé

Abstract

This paper proposes a new model to account for unobserved heterogeneity in empirical modelling. The model extends the well-known Finite Mixture (or Latent Class) Model by using the Johnson family of distributions for the component densities. Due to the great variety of distributional shapes that can be assumed by the Johnson family, the method does not impose the usual a priori assumptions regarding the type of densities that are mixed.

Suggested Citation

  • Peter Willemé, 2017. "Working Paper 14-17 - Modelling unobserved heterogeneity in distribution - Finite mixtures of the Johnson family of distributions," Working Papers 201714, Federal Planning Bureau, Belgium.
    • Handle: RePEc:fpb:wpaper:201714
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    More about this item

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • C46 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Specific Distributions
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection

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