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Autoren: 
Winkelmann, Rainer
Datum: 
2004
Reihe/Nr.: 
IZA Discussion Papers 1016
Zusammenfassung: 
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.
Schlagwörter: 
ordered probit model
error components
German Socio-Economic Panel
JEL: 
I31
C25
C23
J19
Dokumentart: 
Working Paper

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