Journal ArticleDOI
The sensitivity of an empirical model of married women's hours of work to economic and statistical assumptions
TLDR
In this paper, a systematic analysis of several theoretic and statistical assumption s used in many empirical models of female labor supply is performed. But the two most important assumptions appear to be the Tobit assumption used to control for sel f-selection into the labor force and exogeneity assumptions on the worker's wage rate and her labor market experience.Abstract:
This study undertakes a systematic analysis of several theoretic and statistical assumption s used in many empirical models of female labor supply. Using a singl e data set (PSID 1975 labor supply data) the author is able to replic ate most of the range of estimated income and substitution effects fo und in previous studies in this field. He undertakes extensive specif ication tests and finds that most of this range should be rejected du e to statistical and model misspecifications. The two most important assumptions appear to be the Tobit assumption used to control for sel f-selection into the labor force and exogeneity assumptions on the wi fe's wage rate and her labor market experience. Copyright 1987 by The Econometric Society.read more
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Book
Econometric Analysis of Cross Section and Panel Data
TL;DR: This is the essential companion to Jeffrey Wooldridge's widely-used graduate text Econometric Analysis of Cross Section and Panel Data (MIT Press, 2001).
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Human resources: empirical modeling of household and family decisions.
John Strauss,Duncan Thomas +1 more
TL;DR: A literature review focusing on education and health in its examination of the role that households and families play in choosing how to invest the human capital of their members is presented in this paper.
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Children and Their Parents' Labor Supply: Evidence from Exogenous Variation in Family Size
TL;DR: This paper used a new instrumental variable, the sex composition of the first two births in families with at least two children, to estimate the effect of additional children on parents' labor supply.
Journal ArticleDOI
Estimating Models with Sample Selection Bias: A Survey
TL;DR: In this paper, a survey of the available methods for estimating models with sample selection bias is presented, including semi-parametric and fully parameterized models, and the ability to tackle different selection rules generating the selection bias.
Journal ArticleDOI
Marginal Likelihood From the Metropolis–Hastings Output
Siddhartha Chib,Ivan Jeliazkov +1 more
TL;DR: The proposed method is developed in the context of MCMC chains produced by the Metropolis–Hastings algorithm, whose building blocks are used both for sampling and marginal likelihood estimation, thus economizing on prerun tuning effort and programming.
References
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Journal ArticleDOI
Specification Tests in Econometrics
TL;DR: In this article, the null hypothesis of no misspecification was used to show that an asymptotically efficient estimator must have zero covariance with its difference from a consistent but asymptonically inefficient estimator, and specification tests for a number of model specifications in econometrics.
Journal ArticleDOI
Maximum likelihood estimation of misspecified models
TL;DR: In this article, the consequences and detection of model misspecification when using maximum likelihood techniques for estimation and inference are examined, and the properties of the quasi-maximum likelihood estimator and the information matrix are exploited to yield several useful tests.