Permanent URL to this publication: http://dx.doi.org/10.5167/uzh-52162
Winkelmann, Rainer (2004). Subjective Well-Being and the Family: Results from an Ordered Probit Model with Multiple Random Effects. Working paper series / Socioeconomic Institute No. 204, University of Zurich.
The previous literature on the determinants of individual well-being has failed to fully account for the interdependencies in well-being at the family level. This paper develops an ordered probit model with multiple random effects that allows to identify the intrafamily correlation in well-being. The parameters of the model can be estimated with panel data using Maximum Marginal Likelihood. The approach is illustrated in an application using panel data for the period 1984-1997 from the German Socio-Economic Panel in which both inter-generational and intra-marriage correlations in well-being are estimated.
|Item Type:||Working Paper|
|Communities & Collections:||03 Faculty of Economics > Department of Economics|
Working Paper Series > Socioeconomic Institute (former)
|JEL Classification:||C23, C25, I31, J19|
|Deposited On:||29 Nov 2011 23:32|
|Last Modified:||09 Jul 2012 07:02|
|Series Name:||Working paper series / Socioeconomic Institute|
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