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Limited-Dependent and Qualitative Variables in Econometrics (Econometric Society Monographs), by G. S. Maddala
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This book presents the econometric analysis of single-equation and simultaneous-equation models in which the jointly dependent variables can be continuous, categorical, or truncated. Despite the traditional emphasis on continuous variables in econometrics, many of the economic variables encountered in practice are categorical (those for which a suitable category can be found but where no actual measurement exists) or truncated (those that can be observed only in certain ranges). Such variables are involved, for example, in models of occupational choice, choice of tenure in housing, and choice of type of schooling. Models with regulated prices and rationing, and models for program evaluation, also represent areas of application for the techniques presented by the author.
- Sales Rank: #270542 in Books
- Brand: Brand: Cambridge University Press
- Published on: 1986-06-27
- Original language: English
- Number of items: 1
- Dimensions: 8.98" h x .91" w x 5.98" l, 1.40 pounds
- Binding: Paperback
- 414 pages
- Used Book in Good Condition
Review
'The book does an excellent job of surveying its chosen topics ... such a comprehensive treatment as this book provides has previously been lacking. Thus the book fills an important gap in the literature. It will no doubt be widely read and used. It should be useful both to individuals interested in these topics at a theoretical level and those interested in applications. In the latter regard, an excellent feature of the book is that it contains a lot of empirical examples.' Journal of the American Statistical Association
'... this book represents a significant contribution to the literature on limited dependent and qualitative variables. It should serve as a major reference for researchers doing empirical work with these models. It should also be useful to graduate students as well as econometric theorists.' American Journal of Agricultural Economics
'To summarise, the book contains a very useful and clearly written account of many of the aspects of the limited dependent and qualitative variable models with an extensive use of empirical examples. The econometric issues raised by the models are neatly produced without taxing the reader too greatly. There will undoubtedly be other books appearing in the near future in the same area. It is to Maddala's credit that he has produced a book which, by virtue of its extensive coverage, will be very hard to beat.' The Economic Journal
About the Author
G.S. MADDALA passed away in June 1999 and had been a leading figure in the econometrics profession for more than three decades. At the time of his death, he held the University Eminent Scholar Professorship in the Department of Economics at Ohio State University. His previous university affiliations include Stanford University, University of Rochester and University of Florida.
Most helpful customer reviews
0 of 0 people found the following review helpful.
Very comprehensive
By ddd
This is a very comprehensive textbook for varieties of must-learn empirical strategies including discrete choice models and sample selection models. The author explains carefully most of the derivations of the models and stated underlying philosophy and developments in the literature.
While the book is still worth reading students will need to have other books to do modern econometric analysis in this fields. Train's "Descrete choice methods with simulation" and Gouriéroux and Monfort's "Simulation-Based Econometric Methods" are examples.
Still, I love this book because I feel excitement of early-days econometricians who developed most of modern econometric frameworks when reading it.
16 of 16 people found the following review helpful.
Good, but are you REALLY sure you need this?
By Amazon Customer
This book surely is a classic treatment of limited dependent variable models. However, I suspect most researchers, and definitely almost all graduate stduents will NOT need this book.
1) First, it is VERY outdated. Note that this book has been written in 1983. That is more than *20* years ago. There is nothing here on nonpametric and semiparametric models, which are becoming the standard in this field. For this, a good reference would be Pagan and Ullah, which also contain results for nonparametric and semiparametric general density and regression estimation. The fact that this book is outdated not only means that lots and lots of important tools are not covered here, but it also means that it covers many results and estimators that are no longer considered important.
2) Second, and especially if you are a graduate student, all or almost all the results you will need for your courses is covered very well in textbooks that also cover a wealth of other materials (such as Wooldridge, Amemiya, Ruud, Davidson and McKinnon etc.).
So, overall, do not buy this book simply because it's in your syllabus. Have a look at it first in a library, and then decide if you really need it. But chances are that you won't. The book still deserved 5 stars for what it meant when it was first published.
3 of 4 people found the following review helpful.
the best of it's kind
By Guillermo Garcia Martin
in microeconometrics methods is one of the best books one could have. to acomplish this book you need another in panel data, like for example cheng hsiao's book. With this two books you have all you need to work in microeconometrics
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