Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/76242
Authors: 
Winkelmann, Rainer
Year of Publication: 
2004
Series/Report no.: 
Working Paper, Socioeconomic Institute, University of Zurich 0204
Abstract: 
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.
Subjects: 
ordered probit model
error components
German Socio-Economic Panel
JEL: 
C23
C25
I31
J19
Document Type: 
Working Paper

Files in This Item:
File
Size
307.83 kB





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