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Quantification of qualitative data using ordered probit models with an application to a business survey in the German service sector

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  • Kaiser, Ulrich
  • Spitz, Alexandra

Abstract

This paper aims at providing business survey analysts with simple econometric tools to quantify qualitative survey data. We extend the traditional and commonly applied method proposed by Carlson and Parkin (1975) to capture observable survey respondent heterogeneity. We also discuss specification tests. The empirical analysis is based on business survey data taken from the ZEW's 'Service Sector Business Survey', a quarterly business survey in the German business-related service sector carried out since 1994.

Suggested Citation

  • Kaiser, Ulrich & Spitz, Alexandra, 2000. "Quantification of qualitative data using ordered probit models with an application to a business survey in the German service sector," ZEW Discussion Papers 00-58, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  • Handle: RePEc:zbw:zewdip:5342
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    File URL: https://www.econstor.eu/bitstream/10419/24407/1/dp0058.pdf
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    References listed on IDEAS

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    1. Dasgupta, Susmita & Lahiri, Kajal, 1992. "A Comparative Study of Alternative Methods of Quantifying Qualitative Survey Responses Using NAPM Data," Journal of Business & Economic Statistics, American Statistical Association, vol. 10(4), pages 391-400, October.
    2. Klodt, Henning & Maurer, Rainer & Schimmelpfennig, Axel, 1997. "Tertiarisierung in der deutschen Wirtschaft," Open Access Publications from Kiel Institute for the World Economy 959, Kiel Institute for the World Economy (IfW).
    3. Batchelor, R. A., 1986. "The psychophysics of inflation," Journal of Economic Psychology, Elsevier, vol. 7(3), pages 269-290, September.
    4. Chamberlain, Gary, 1984. "Panel data," Handbook of Econometrics,in: Z. Griliches† & M. D. Intriligator (ed.), Handbook of Econometrics, edition 1, volume 2, chapter 22, pages 1247-1318 Elsevier.
    5. Davidson, Russell & MacKinnon, James G, 1992. "A New Form of the Information Matrix Test," Econometrica, Econometric Society, vol. 60(1), pages 145-157, January.
    6. Chesher, Andrew & Irish, Margaret, 1987. "Residual analysis in the grouped and censored normal linear model," Journal of Econometrics, Elsevier, vol. 34(1-2), pages 33-61.
    7. Carlson, John A & Parkin, J Michael, 1975. "Inflation Expectations," Economica, London School of Economics and Political Science, vol. 42(166), pages 123-138, May.
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    Cited by:

    1. repec:crs:ecosta:es395-396e is not listed on IDEAS
    2. Bucă, Andra & Vermeulen, Philip, 2017. "Corporate investment and bank-dependent borrowers during the recent financial crisis," Journal of Banking & Finance, Elsevier, vol. 78(C), pages 164-180.
    3. Kaiser, Ulrich, 2001. "Differences in response patterns in a mixed mode: online/paper & pencil business survey," ZEW Discussion Papers 01-50, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    4. Jürgen Bierbaumer-Polly & Werner Hölzl, 2016. "Business Cycle Dynamics and Firm Heterogeneity. Evidence for Austria Using Survey Data," WIFO Working Papers 504, WIFO.
    5. Vanberg, Margit A., 2003. "Die ZEW/Creditreform Konjunkturumfrage bei Dienstleistern der Informationsgesellschaft: Dokumentation der Umfrage und Einführung des ZEW-Indikators der Dienstleister der Informationsgesellschaft," ZEW Dokumentationen 03-09, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    6. Olivier Biau & Hélène Erkel-Rousse & Nicolas Ferrari, 2006. "Réponses individuelles aux enquêtes de conjoncture et prévision de la production manufacturière," Économie et Statistique, Programme National Persée, vol. 395(1), pages 91-116.
    7. Nolte, Ingmar & Pohlmeier, Winfried, 2007. "Using forecasts of forecasters to forecast," International Journal of Forecasting, Elsevier, vol. 23(1), pages 15-28.

    More about this item

    Keywords

    quantification technique; ordered probit; specification tests;

    JEL classification:

    • L8 - Industrial Organization - - Industry Studies: Services
    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities

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