Search results for "Multinomial probit"
showing 2 items of 2 documents
Booms and busts in housing markets: determinants and implications
2009
This study looks at real estate price booms and busts in industrialised countries. It identifies major and persistent deviations from long term trends for 18 countries and estimates the probabilities of their occurrence using a Random Effects Panel Probit model over the period 1980-2007. It finds that 1) most recent housing booms have been very persistent and of a significant magnitude; 2) there appears to be a strong correlation between the persistence and magnitude of booms and subsequent busts; 3) economic costs (in terms of GDP losses during the post-boom phase) depend significantly on the magnitude and duration of the boom and money and credit developments during that period; 4) a numb…
Candidate localness and voter choice in the 2015 General Election in England
2017
Previous research has demonstrated a significant relationship between the geographical distance from a voter to a candidate and the likelihood of the voter choosing that candidate. However, models of this relationship may be mis- or under-specified, by not taking into account voters’ perceptions of distance or not controlling for other possible factors related to a candidate’s ‘localness’ which may influence vote choice. Using a two-wave panel survey carried out during the 2015 UK General Election, this article tests a more fully specified alternative-specific multinomial probit model of candidate-voter distance. We show that, although the effect size is smaller than in previous tests, cand…