Self-selection bias and cost-of-living estimates

Michael Raper

Journal of Economics and Finance, 1999, vol. 23, issue 1, 64-77

Abstract: Due to continued interest in geographic living-cost differentials, some researchers have used data from the ACCRA Cost of Living Index. This paper explores further the potential for using ACCRA data for cost-of-living research. In particular, it investigates the possibility of self-selection bias affecting OLS estimates using ACCRA data. The findings indicate that self-selection bias is a concern that researchers using ACCRA data should be aware of. Results using Heckman’s two-step procedure to estimate a cost-of-living model indicate promise for using ACCRA data to update and expand upon previous cost-of-living research. Copyright Springer 1999

Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:spr:jecfin:v:23:y:1999:i:1:p:64-77

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DOI: 10.1007/BF02752688

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