We make a methodological contribution to the latent class literature by re-examining censored variable analysis within a panel data context. Specifically, we extend the standard latent class tobit panel approach to include random effects, to allow for heteroskedasticity and to incorporate the...

This paper explores the importance of the household's financial position for an individual's level of well-being. Initially, the empirical analysis, based on a large nationally representative panel survey, aims to ascertain the impact of the household's monetary financial position on overall...