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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 - Leibniz Centre for European Economic Research.
    • Handle: RePEc:zbw:zewdip:5342
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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. 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.
    3. 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 Kiel).
    4. Batchelor, R. A., 1986. "The psychophysics of inflation," Journal of Economic Psychology, Elsevier, vol. 7(3), pages 269-290, September.
    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. 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.
    2. Enrico D’Elia, 2005. "Using the results of qualitative surveys in quantitative analysis," ISAE Working Papers 56, ISTAT - Italian National Institute of Statistics - (Rome, ITALY).
    3. Ray Barrell, 1999. "Employment Security and European Labour Demand: A Panel Study Across 16 Industries," National Institute of Economic and Social Research (NIESR) Discussion Papers 148, National Institute of Economic and Social Research.
    4. Kaiser, Ulrich, 2001. "Differences in response patterns in a mixed mode: online/paper & pencil business survey," ZEW Discussion Papers 01-50, ZEW - Leibniz Centre for European Economic Research.
    5. SungJu Song & Myung‐Soo Yie & Chang‐Gui Park, 2020. "Price‐Setting Behavior of Korean Firms†," Asian Economic Journal, East Asian Economic Association, vol. 34(1), pages 97-120, March.
    6. Jürgen Bierbaumer-Polly & Werner Hölzl, 2016. "Business Cycle Dynamics and Firm Heterogeneity. Evidence for Austria Using Survey Data," WIFO Working Papers 504, WIFO.
    7. 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 - Leibniz Centre for European Economic Research.
    8. 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.
    9. Nolte, Ingmar & Pohlmeier, Winfried, 2007. "Using forecasts of forecasters to forecast," International Journal of Forecasting, Elsevier, vol. 23(1), pages 15-28.

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    More about this item

    Keywords

    quantification technique; ordered probit; specification tests;
    All these keywords.

    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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