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http://hdl.handle.net/10419/20251
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| Title: | | Subjective Well-Being and the Family: Results from an Ordered Probit Model with Multiple Random Effects  |
| Authors: | | Winkelmann, Rainer |
| Issue Date: | | 2004 |
| Series/Report no.: | | IZA Discussion paper series 1016 |
| Abstract: | | The previous literature on the determinants of individual well-being has failed to fully account for the interdependencies in well-being at the family level. This paper develops an ordered probit model with multiple random effects that allows to identify the intrafamily correlation in well-being. The parameters of the model can be estimated with panel data using Maximum Marginal Likelihood. The approach is illustrated in an application using panel data for the period 1984-1997 from the German Socio-Economic Panel in which both inter-generational and intra-marriage correlations in well-being are estimated. |
| Subjects: | | ordered probit model error components German Socio-Economic Panel |
| JEL: | | I31 C25 C23 J19 |
| Document Type: | | Working Paper |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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| dp1016.pdf | | 263.73 kB | Adobe PDF |
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