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Title:Subjective Well-Being and the Family: Results from an Ordered Probit Model with Multiple Random Effects PDF Logo
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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