학술저널
A Test of Heterogeneity in Constant Hazard Models Using Least Squares
- 서울대학교 경제연구소
- Seoul Journal of Economics
- Seoul Journal of Economics Volume 4 No.2
-
1991.06141 - 145 (4 pages)
- 3
커버이미지 없음
The presence of unmeasured heterogeneity can seriously bias inference in economic duration models. To detect the presence of heterogeneity in the hazard models of duration, the tests proposed in the past utilize cumbersome maximum likelihood procedures. This paper presents an alternative test assuming a constant hazard. Our diagnostic test is based on the least squares regression, and hence it is simple to implement.
Abstract
Ⅰ. Introduction
Ⅱ. The Model
Ⅲ. The Test
Ⅳ. Conclusion
References
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