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Tests of hypotheses arising in the correlated random coefficient model

James Heckman and Daniel Schmierer

Economic Modelling, 2010, vol. 27, issue 6, 1355-1367

Abstract: This paper examines the correlated random coefficient model. It extends the analysis of Swamy (1971, 1974), who pioneered the uncorrelated random coefficient model in economics. We develop the properties of the correlated random coefficient model and derive a new representation of the variance of the instrumental variable estimator for that model. We develop tests of the validity of the correlated random coefficient model against the null hypothesis of the uncorrelated random coefficient model.

Keywords: Random; coefficient; models; Correlated; random; coefficient; models; Instrumental; variables (search for similar items in EconPapers)
Date: 2010
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Related works:
Working Paper: Tests of Hypotheses Arising in the Correlated Random Coefficient Model (2010) Downloads
Working Paper: Tests of Hypotheses Arising in the Correlated Random Coefficient Model (2010) Downloads
Working Paper: Tests of Hypotheses Arising In the Correlated Random Coefficient Model (2010) Downloads
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