Simplified Estimation of Multivariate Duration Models with Unobserved Heterogeneity

A simple structure is suggested for modelling unobserved heterogeneity in multivariate duration models which avoids the "curse of dimensionality" and numerical integration of the likelihood function. This structure can be applied to many retirement and aging decisions including: time to retirement between spouses, financial planning, and health related retirement decisions.

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Year of publication:	2000-09
Authors:	Colby, Gordana ; Rilstone, Raul
Institutions:	Department of Economics, McMaster University
Subject:	multivariate duration model \| retirement

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Series:	Social and Economic Dimensions of an Aging Population Research Papers.
Type of publication:	Book / Working Paper
Notes:	22 pages
Classification:	C41 - Duration Analysis
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005763329