Parametric and Semi-parametric Modelling of Vacation Expenditures

Bertrand Melenberg () and Arthur van Soest ()

Journal of Applied Econometrics, 1996, vol. 11, issue 1, 59-76

Abstract: We analyse several limited dependent variable models explaining the budget share that Dutch families spend on vacations. To take account of the substantial number of zero shares, two types of models are used. The first is the single-equation censored regression model. We estimate and test several parametric and semiparametric extensions of the Tobit model. Second, we consider two-equation models, in which the participation decision and the decision on the amount to spend are treated separately. The first decision is modelled as a binary choice model; the second as a conditional regression. We estimate and test parametric and semiparametric specifications. Copyright 1996 by John Wiley & Sons, Ltd.

Date: 1996
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Related works:
Working Paper: Parametric and semi-parametric modelling of vacation expenditures (1996)
Working Paper: Parametric and Semi-parametric Modelling of Vocation Expenditures (1991)
Working Paper: Parametric and semi-parametric modelling of vacation expenditures (1991)
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