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Autor:innen: 
Erscheinungsjahr: 
2006
Schriftenreihe/Nr.: 
Memorandum No. 2006,06
Verlag: 
University of Oslo, Department of Economics, Oslo
Zusammenfassung: 
This paper proposes a particular axiomatic approach to motivate the choice of functional forms and distribution of unobservables in continuous time models for discrete panel data analysis. We discuss in particular applications with data on transitions between employment and unemployment. This framework yields a characterization of transition probabilities and duration distributions in terms of structural parameters of the utility function and choice constraints. Moreover, it is discussed how the modeling framework can be extended to allow for involuntary transitions, structural state dependence and random effects.
Schlagwörter: 
Discrete choice in continuous time
Duration of unemployment/employment
Random utility models
Functional form
Invariance principles
JEL: 
C23
C25
C41
Dokumentart: 
Working Paper

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