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Titolo:
GMM ESTIMATION OF COUNT-PANEL-DATA MODELS WITH FIXED EFFECTS AND PREDETERMINED INSTRUMENTS
Autore:
MONTALVO JG;
Indirizzi:
UNIV POMPEU FABRA,DEPT ECON BARCELONA 08008 SPAIN IVIE VALENCIA 46020 SPAIN
Titolo Testata:
Journal of business & economic statistics
fascicolo: 1, volume: 15, anno: 1997,
pagine: 82 - 89
SICI:
0735-0015(1997)15:1<82:GEOCMW>2.0.ZU;2-W
Fonte:
ISI
Lingua:
ENG
Soggetto:
MAXIMUM-LIKELIHOOD METHODS; SERIAL-CORRELATION; SPECIFICATION;
Keywords:
CONDITIONAL MAXIMUM LIKELIHOOD ESTIMATOR; CONDITIONAL MOMENT RESTRICTIONS; PATENTS-R-AND-D RELATIONSHIP; PSEUDO MAXIMUM LIKELIHOOD PRINCIPLE; TECHNOLOGY TRANSFER;
Tipo documento:
Article
Natura:
Periodico
Settore Disciplinare:
Physical, Chemical & Earth Sciences
Physical, Chemical & Earth Sciences
Citazioni:
23
Recensione:
Indirizzi per estratti:
Citazione:
J.G. Montalvo, "GMM ESTIMATION OF COUNT-PANEL-DATA MODELS WITH FIXED EFFECTS AND PREDETERMINED INSTRUMENTS", Journal of business & economic statistics, 15(1), 1997, pp. 82-89

Abstract

The ''traditional'' approach to the estimation of count-panel-data models with fixed effects is the conditional maximum likelihood estimator. The pseudo maximum likelihood principle can be used in these modelsto obtain orthogonality conditions that generate a robust estimator. This estimator is inconsistent, however, when the instruments are not strictly exogenous. This article proposes a generalized method of moments estimator for count-panel-data models with fixed effects, based ona transformation of the conditional mean specification, that is consistent even when the explanatory variables are predetermined. Two applications are discussed, the relationship between patents and research and development expenditures and the explanation of technology transfer.

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Documento generato il 03/07/20 alle ore 01:09:54