A Generalized Logistic Tobit Model

This paper proposes the use of a generalisation of the Logistic distribution, the Burr Type II distribution, as the error structure in a Type I (Standard) Tobit model. The use of the Burr II is motivated through both an heterogeneity argument and by noticing the need for potentially non-symmetric distributions in Tobit models. Tests for symmetry (the Logistic distribution) and its implied heterogeneity are also proposed. Finally the model is estimated using Australian data on alcohol expenditure.


Issue Date:
Feb 01 1991
Publication Type:
Working or Discussion Paper
Language:
English
Total Pages:
19
Series Statement:
Working Paper No. 1/91




 Record created 2018-01-24, last modified 2018-01-25

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)