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Title
Two-part models for fractional responses defined as ratios of integers
AuthorOberhofer, Harald ; Pfaffermayr, Michael
Published in
Econometrics, Basel, 2014, Vol. 2, Issue 3, page 123-144
PublishedMDPI, 2014
LanguageEnglish
Document typeJournal Article
Keywords (EN)fractional response models for ratios of integers / one-part versus two-part models / Wald test / LM test / LR test
ISSN2225-1146
URNurn:nbn:at:at-ubs:3-5538 Persistent Identifier (URN)
DOI10.3390/econometrics2030123 
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 The work is publicly available
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Abstract (English)

This paper discusses two alternative two-part models for fractional response variables that are defined as ratios of integers. The first two-part model assumes a Binomial distribution and known group size. It nests the one-part fractional response model proposed by Papke and Wooldridge (1996) and, thus, allows one to apply Wald, LM and/or LR tests in order to discriminate between the two models. The second model extends the first one by allowing for overdispersion in the data. We demonstrate the usefulness of the proposed two-part models for data on the 401(k) pension plan participation rates used in Papke and Wooldridge (1996)

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CC-BY-License (4.0)Creative Commons Attribution 4.0 International License