Properties of Estimators under Standard Assumptions

In this section we shall discuss the properties of various estimators of the T obit model under the assumptions of the model. The estimators we shall consider are the probit maximum likelihood (ML), least squares (LS), Heckman’s two-step least squares, nonlinear least squares (NLLS), nonlinear weighted least squares (NLWLS), and Tobit ML estimators.

x

Подпись: Reference Adams (1980) Ashenfelter and Ham (1979) Fair (1978) Keeleyetal. (1978) Kotlikoff(1979) Reece (1979) Rosenzweig (1980) Stephenson and McDonald (1979) Wiggins (1981) Witte (1980) Подпись: У Inheritance Ratio of unemployed hours to employed hours Number of extramarital affairs Подпись: Hours worked after a negative income tax program Expected age of retirement Подпись: Charitable contributions Annual days workedПодпись: Family earnings after a negative income tax programПодпись: Annual marketing of new chemical entitiesПодпись: Number of arrests (or convictions) per month after release from prisonIncome, marital status, number of children Years of schooling, working experience

Sex, age, number of years married, number of children, education, occupation, degree of religiousness Preprogram hours worked, change in the wage rate, family characteristics Ratio of social security benefits lost at time of full-time employment to full-time earnings Price of contributions, income

Wages of husbands and wives, education of husbands and wives, income

Earnings before the program, husband’s and wife’s education, other family characteristics, unemployment rate, seasonal dummies Research expenditure of the pharmaceutical industry, stringency of government regulatory standards

Accumulated work release funds, number of months after release until first job, wage rate after release, age, race, drug use

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