Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/104682
Authors: 
Eisenhauer, Philipp
Heckman, James J.
Mosso, Stefano
Year of Publication: 
2014
Series/Report no.: 
IZA Discussion Papers 8548
Abstract: 
We compare the performance of maximum likelihood (ML) and simulated method of moments (SMM) estimation for dynamic discrete choice models. We construct and estimate a simplified dynamic structural model of education that captures some basic features of educational choices in the United States in the 1980s and early 1990s. We use estimates from our model to simulate a synthetic dataset and assess the ability of ML and SMM to recover the model parameters on this sample. We investigate the performance of alternative tuning parameters for SMM.
Subjects: 
returns to education
dynamic discrete choice
simulation-based estimation
JEL: 
C13
C15
C35
I21
Document Type: 
Working Paper

Files in This Item:
File
Size
798.41 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.