Heckman's (1979) sample selection model has been employed in three decades of applications of linear regression studies. The formal extension of the method to nonlinear models, however, is of more recent vintage. A generic solution for nonlinear models is proposed in Terza (1998). We have...

Heckman s (1979) sample selection model has been employed in three decades of applications of linear regression studies. The formal extension of the method to nonlinear models, however, is of more recentvintage. A generic solution for nonlinear models is proposed in Terza (1998). We have...

The paper presents a monetary model of endogenous growth and specifies an econometric model consistent with this model. The estimation is based on OECD and APEC panel data, from 1961-1997. It includes fixed country and time heterogeneity and shows a strong negative effect of inflation on growth...