The Tobit Model
The tobit model is one of those models that is so neat in theory, but rarely seen in practice.
I wrote a short R script to show the benefits of the tobit model, here is the outcome:
You can download the R-script here.
Advertisement
The missing slash
Greg Mankiw's Blog
- Dynamic Scoring Redux February 23, 2012
Paul Krugman
- Euro Agonistes February 23, 2012No good answers.
The Becker-Posner Blog
- Amnesty for Illegal Immigrants? Posner February 20, 2012
Statistical Modeling, Causal Inference, and Social Science
- Philosophy: Pointer to Salmon February 23, 2012Larry Brownstein writes: I read your article on induction and deduction and your comments on Deborah Mayo’s approach and thought you might find the following useful in this discussion. It is Wesley Salmon’s Reality and Rationality (2005). Here he argues that Bayesian inferential procedures can replace the hypothetical-deductive method aka the Hem […]
hjeconomics: The Blog
- US Output Gap: Still negative February 12, 2012John Taylor recently showed how the United States is currently much farther away from returning to “potential output” compared with the recession of the early 1980s, where above-average output growth during the recovery secured a return to the potential output … Continue reading →
EconLog
- How Real Wage Increases Have Been Understated, by David Henderson February 23, 2012Over the years, In discussing the alleged decline in real U.S. median wages, I've pointed out that there are two important ways in which the growth in real wages has been understated: (1) The inflation adjustment used to compare wages over time is the Consumer Price Index. As Michael Boskin has shown, the CPI overstates the increase in the cost of livin […]
Rigotnomics
- Suggested reading February 21, 2012Why DSGE models have a conservative biasWhy political reforms are so hard in the wake of crisesYour right arm for a publication in the AER? (ht: Antonio Mele)
leave a comment