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The dominant practice in economics is to choose the mathematical specification of model relations on the basis of convenience, without much theoretical support. This paper discusses how quantitative model specifications can, in some cases, be given a more formal scientific underpinning in the...
Persistent link: https://www.econbiz.de/10011779216
Persistent link: https://www.econbiz.de/10012108498
Persistent link: https://www.econbiz.de/10008776424
The dominant practice in economics is to choose the mathematical specification of model relations on the basis of convenience, without much theoretical support. This paper discusses how quantitative model specifications can, in some cases, be given a more formal scientific underpinning in the...
Persistent link: https://www.econbiz.de/10012058686
This paper proposes a particular axiomatic approach to motivate the choice of functional forms and distribution of unobservables in continuous time models for discrete panel data analysis. We discuss in particular applications with data on transitions between employment and unemployment. This...
Persistent link: https://www.econbiz.de/10010284273
This paper proposes a particular axiomatic approach to motivate the choice of functional forms and distribution of unobservables in continuous time models for discrete panel data analysis. We discuss in particular applications with data on transitions between employment and unemployment. This...
Persistent link: https://www.econbiz.de/10005652167