Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/73511
Authors: 
Oberhofer, Harald
Pfaffermayr, Michael
Year of Publication: 
2009
Series/Report no.: 
Working Papers in Economics and Statistics 2009-02
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 reported estimation results concerning the determinants of employee participation rates in 401(k) pension plans using standard routines provided in Stata. As an alternative, we estimate a two-part model that is able to cope with the excessive number of boundary values of one in the data. The estimated marginal effects are similar to that derived in that 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
Document Type: 
Working Paper

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