Empirical studies on the relationship between income and happiness commonly use standard ordered response models, the most well-known representatives being the ordered logit and the ordered probit. However, these models restrict the marginal probability effects by design, and therefore limit the analysis of distributional aspects of a change in income, that is, the study of whether the income e...

We show that with a simple normalization of explanatory variables, marginal effects in probit and logit models simplify dramatically, becoming a function of only the estimated constant term. Related simplifications hold for computation of asymptotic variances of these effects. D 2003 Elsevier B.V. All rights reserved.

This paper proposes dynamic copula and marginals functions to model the joint distribution of risk factor returns affecting portfolios profit and loss distribution over a specified holding period. By using copulas, we can separate the marginal distributions from the dependence structure and estimate portfolio Value-at-Risk, assuming for the risk factors a multivariate distribution that can be d...

Can two-way trade in similar products lead to lower welfare than if such trade was banned? Theory answers yes. To empirically investigate this proposition we examine Swedish imports of bottled water. Assuming one-shot (Bertrand and Cournot) competition, we can use the estimates from a structural model of demand to uncover marginal costs. We simulate the effect on consumer and producer surplus o...

We study Umklapp couplings and their renormalisation group flow for electrons in a two-dimensional lattice. It is shown that the effective low energy Hamiltonian involves not only forward scattering, but also considerable non-forward Umklapp scattering, when the electrons fill a substantial fraction of the valence band. The behavior of these couplings under the renormalisation group is studied ...

New bivariate survival function estimators are proposed in the case where the dependence relationship between the censoring variables are modelled. Specific examples include the cases when censoring variables are univariate, mutually independent or specified by a marginal model. Large sample properties of the proposed estimators are discussed. The finite sample performance of the proposed estim...

This article proposes bootstrap-based stochastic dominance tests for nonparametric conditional distributions and their moments. We exploit the fact that a conditional distribution dominates the other if and only if the di¤erence between the marginal joint distributions is monotonic in the explanatory variable for each value of the dependent variable. The proposed test statistic compares restric...

This paper considers the problem of inferring a discrete joint distribution from a sample subject to selection. Abstractly, we want to identify a distribution p(x,w) from its conditional p(x |w). We introduce new assumptions on the marginal model for p(x), under which generic identification is possible. These assumptions are quite general and can easily be tested; they do not require precise ba...

Although much of the literature on child labor looks at the decision on whether to send a child to school or to work (or both), little attention has focused on the number of hours worked. This article analyzes the determinants of school attendance and hours worked by children in Pakistan and Nicaragua. A theoretical model of children’s labor supply is used to simultaneously estimate the school ...

Chinese animal product consumption behaviour was analysed for both urban and rural households using a complete regional consumption dataset that was augmented to include away-from-home consumption. Seven animal product expenditure share equations were estimated with an extended Almost Ideal Demand System model. The results suggest that Chinese consumers will continue to increase their consumpti...