Simulated maximum likelihood estimation of multivariate mixed-Poisson regression models, with application

Murat Munkin and Pravin Trivedi

Econometrics Journal, 1999, vol. 2, issue 1, 29-48

Abstract: This paper proposes and implements simulated maximum likelihood estimation of bivariate count models with unrestricted correlation pattern of unobserved heterogeneity. The implementation incorporates both antithetic acceleration and adjustment for first-order simulation bias. Both the Monte Carlo simulation evidence and an application to health utilization data confirm that the method is reliable and feasible in data analysis.

Keywords: Bivariate Poisson; Unobserved heterogeneity; Overdispersion; Simulation bias; Demand for medical services. (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:ect:emjrnl:v:2:y:1999:i:1:p:29-48

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