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Transitions at different moments in time: a spatial probit approach
Citation
Elhorst, JP and Heijnen, P and Samarina, A and Jacobs, JPAM, Transitions at different moments in time: a spatial probit approach, Journal of Applied Econometrics, 32, (2) pp. 422-439. ISSN 0883-7252 (2017) [Refereed Article]
Copyright Statement
Copyright 2016 John Wiley & Sons, Ltd.
DOI: doi:10.1002/jae.2505
Abstract
This paper adopts a spatial probit approach to explain interaction effects among cross-sectional units when the dependent variable takes the form of a binary response variable and transitions from state 0 to 1 occur at different moments in time. The model has two spatially lagged variables: one for units that are still in state 0 and one for units that had already transferred to state 1. The parameters are estimated on observations for those units that are still in state 0 at the start of the different time periods, whereas observations on units after they transferred to state 1 are discarded, just as in the literature on duration modeling. Furthermore, neighboring units that had not yet transferred may have a different impact from units that had already transferred. We illustrate our approach with an empirical study of the adoption of inflation targeting for a sample of 58 countries over the period 1985–2008. Copyright © 2016 John Wiley & Sons, Ltd
Item Details
Item Type: | Refereed Article |
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Research Division: | Economics |
Research Group: | Applied economics |
Research Field: | Financial economics |
Objective Division: | Economic Framework |
Objective Group: | Macroeconomics |
Objective Field: | Fiscal policy |
UTAS Author: | Jacobs, JPAM (Associate Professor Jan Jacobs) |
ID Code: | 106840 |
Year Published: | 2017 (online first 2016) |
Web of Science® Times Cited: | 6 |
Deposited By: | TSBE |
Deposited On: | 2016-02-23 |
Last Modified: | 2017-10-25 |
Downloads: | 0 |
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