Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/105385
Authors: 
Oberhofer, Harald
Pfaffermayr, Michael
Year of Publication: 
2012
Citation: 
[Journal:] Contemporary Economics [ISSN:] 2084-0845 [Publisher:] Vizja Press & IT [Place:] Warsaw [Volume:] 6 [Year:] 2012 [Issue:] 3 [Pages:] 56-64
Abstract: 
This paper replicates the estimates of a fractional response model for share data reported in the seminal paper of Leslie E. Papke and Jeffrey M. Wooldridge published in the Journal of Applied Econometrics 11(6), 1996, pp.619-632. We have been able to replicate all of the reported estimation results concerning the determinants of employee participation rates in 401(k) pension plans using the standard routines provided in Stata. As an alternative, we estimate a two-part model that is capable of coping with the excessive number of boundary values equalling one in the data. The estimated marginal effects are similar to those derived in the paper. A small-scale Monte Carlo simulation exercise suggests that the RESET tests proposed by Papke and Wooldridge in their robust form are useful for detecting neglected non-linearities in small samples.
Subjects: 
replication exercise
fractional response models
two-part models
Monte Carlo simulation
JEL: 
C15
C21
Persistent Identifier of the first edition: 
Document Type: 
Article
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