Search results for "Probit"
showing 9 items of 49 documents
Determinants of Sub-Sovereign Government Ratings In Europe
2017
The aim of this paper is to identify the determinantsof the rating assigned to sub-sovereignentities in Germany, Austria, Belgium, France,Italy and Spain, using a total of 92 territorial entitiesfor the 1989-2012 period. Multinomial orderedprobit estimation models were estimatedfor each specifi cation and agency.We conclude that the country’s rating is oneof the most important determinants of regionalgovernment’s ratings with a positive infl uence(as expected), and that the country debt/GDPratio is a stronger determinant for regions thantheir own indebtedness with a negative sign.Other relevant variables are population growthrate, unemployment rate, elderly people weight,regional public exp…
Testing for Asymmetric Information in Insurance Markets: A Multivariate Ordered Regression Approach
2016
The positive correlation (PC) test is the standard procedure used in the empirical literature to detect the existence of asymmetric information in insurance markets. This article describes a new tool to implement an extension of the PC test based on a new family of regression models, the multivariate ordered logit, designed to study how the joint distribution of two or more ordered response variables depends on exogenous covariates. We present an application of our proposed extension of the PC test to the Medigap health insurance market in the United States. Results reveal that the risk–coverage association is not homogeneous across coverage and risk categories, and depends on individual so…
CEO gender and SMEs innovativeness: evidence for Spanish businesses
2021
AbstractThis paper analyses the role of gender of the chief executive officer (CEO) on the propensity to introduce innovations using a sample of 1405 Spanish small- and medium-sized enterprises (SMEs). We examine whether there are significant differences between female- and male-led businesses in terms of their propensity to innovate, and whether these differences may be explained by factors related to the attributes of the CEO concerning risk tolerance, self-confidence, education level and cooperative behaviour. In particular, this study tests if the linkages between these managerial attributes and the propensity to innovate are influenced by the gender of the CEO. Using a multivariate pro…
French firms’ strategies for protecting their intellectual property
2012
In attempting to protect their innovations, firms can choose from a range of mechanisms, which may be either non-statutory (trade secrets, design complexity, and lead-time advantage over competitors) or statutory (patent, design registration, trademark, copyright). Yet, little is known about how firms do actually make their choices from among these different appropriability mechanisms. The aim of this paper is to determine how French firms’ use of intellectual property protection mechanisms relates to the type of innovation, the characteristics of the market sector in which they operate, the firms’ characteristics, and their human resources strategies. Our empirical model draws on four Fren…
Bayesian semiparametric long memory models for discretized event data
2020
We introduce a new class of semiparametric latent variable models for long memory discretized event data. The proposed methodology is motivated by a study of bird vocalizations in the Amazon rain forest; the timings of vocalizations exhibit self-similarity and long range dependence. This rules out Poisson process based models where the rate function itself is not long range dependent. The proposed class of FRActional Probit (FRAP) models is based on thresholding, a latent process. This latent process is modeled by a smooth Gaussian process and a fractional Brownian motion by assuming an additive structure. We develop a Bayesian approach to inference using Markov chain Monte Carlo and show g…
Fiscal consolidation and financial reforms
2015
We use data for a panel of 17 countries over the period 1980-2005 to investigate the impact of fiscal consolidation on the likelihood of financial reforms. We show that fiscal adjustments do not boost the implementation of financial reforms. However, tax-driven fiscal consolidation programs raise the likelihood of banking sector reforms. Moreover, we find that: (i) an increase in the degree of trade openness makes countries less likely to implement financial reforms; (ii) an increase in the interest rate spreads accelerates the path of financial reforms, especially, external capital account reforms; and (iii) an improvement in the quality of political institutions strongly enhances the prob…
Youth Migration Aspirations in Georgia and Moldova
2018
This study investigates in what ways individual and household capabilities and their general life aspirations affect migration aspirations in particular, among Georgian and Moldovan youth. The utilized sample was extracted from nationally representative surveys and considers youth aged 11 to 19 (N=3,583). Multi-level, step-wise probit models are used to predict youth migration aspirations. Among the findings are that individual capabilities, aspirations, and household capabilities significantly impact youth migration aspirations, while household aspirations are statistically insignificant. The results further emulate the importance of residential satisfaction, the effects of gendered social…
Behaviour of consumers of conventional and organic flowers and ornamental plants in Italy
2013
The paper analyses preferences and motivations of Italian consumers of flowers and ornamental plants, both conventional and organic. The results helped to outline their profile. Purchases are still done in the traditional places (flower shops for cut flowers and plant nurseries for potted plants), however positive trend is found for potted plants purchases at large distribution chains. Some differences came out as to purchase motivations: cut flowers are mainly bought in special occasions whereas potted plants purchases are linked to personal use. The results confirm a positive relationship between the purchase of flowers and plants and the age of the interviewees, besides showing that wome…
Dynamics of female labour force participation in France
2013
International audience; This article formulates and estimates a structural intertemporal model of labour force participation. Relying on theoretical characterizations derived from an economic model of lifetime behaviour, we estimate a dynamic probit model with correlated random effects using longitudinal data to allow for a dynamic structure. The model is applied to a panel of married women drawn from the 1997–2002 French Labour Force surveys in order to represent their participation behaviour. It is estimated by maximum simulated likelihood. Our results show that women’s decisions to go out to work are characterized by significant state dependence, unobserved heterogeneity and negative ser…