Discrete choice models have been widely estimated on scanner panel data to study consumer choice. One challenge in scanner panel research is that only the prices of the items bought are recorded. The ad hoc models used to fill in the missing prices of non-purchased brands may create a self-selection bias in estimating consumer price sensitivities. This type of bias is also present in existing s...

In this paper, the equivalence scale elasticity will be estimated by using individual panel data on income satisfaction from the German Socio-Economic Panel Study (GSOEP). Satisfaction or happiness data have been more frequently used by economists in recent years to analyze individual well-being. The approach differs from other subjective approaches as respondents are requested to evaluate curr...

The aim of this work is to introduce a new econometric methodology for multioutput production frontiers. In the context of a system of frontier equations, we use a flexible multivariate distribution for the inefficiency error term. This multivariate distribution is constructed through a copula function which allows for separate modelling of the marginal inefficiency distributions and the depend...

In this paper we investigate the long run relationship between financial depth and economic growth, trying to utilize the data in the most efficient manner via panel unit root tests and panel cointegration analysis. In addition, we use threshold cointegration tests, and dynamic panel data estimation for a panel-based vector error correction model. The long run relationship is estimated using fu...

This paper develops an empirical approach using econometric techniques for panel data which aims to contribute to the reduction/elimination of the deviation between the book and market value of firms. Based on 20 of the firms with the largest number of patents granted between 1996 and 2006, the results show that: (i) the increase in the return on equity following from an increase in the share o...

The second and third generation of immigrants have been the centre of a lively debate about the economic integration of immigrants into their host societies, but there is little empirical evidence on the German case. In this study I comprehensively portray the labour market outcomes of second generation immigrants in Germany. Special attention is attributed to observable heterogeneity in terms ...

In this paper we consider a panel data model with error components that are both spatially and time-wise correlated. The model blends specifications typically considered in the spatial literature with those considered in the error components literature. We introduce generalizations of the generalized moments estimators suggested in Kelejian and Prucha (1999. A generalized moments estimator for ...

When it comes to the inequality-growth relationship, the empirical literature offers contradictory assessments: Estimators based on time-series variation only (i.e., differencesbased estimators) indicate a strong positive link while estimators also exploiting the crosssectional variation (i.e., level-based estimators) suggest a negative relationship. Taking advantage of a new dataset, the prese...

Our analysis of 19 OECD countries over the period 1972-2006 provides evidence of convergence in per capita health care expenditures for 17 countries, while the US and (to a lesser degree) Norway follow a different path. A simple decomposition of per capita health expenditures reveals that the divergence of the US comes from the divergence of the ‘health care expenditure over GDP’ component, whi...

Fixed effects estimators of nonlinear panel models can be severely biased due to the incidental parameters problem. In this paper I find that the most important component of this incidental parameters bias for probit fixed effects estimators of index coefficients is proportional to the true value of these coefficients, using a large-T expansion of the bias. This result allows me to derive a low...