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Estimating Ricardian Models With Panel Data

Emanuele Massetti and Robert Mendelsohn ()

No 2011.50, Working Papers from Fondazione Eni Enrico Mattei

Abstract: Many nonmarket valuation models, such as the Ricardian model, have been estimated using cross sectional methods with a single year of data. Although multiple years of data should increase the robustness of such methods, repeated cross sections suggest the results are not stable. We argue that repeated cross sections do not properly specify the model. Panel methods that correctly specify the Ricardian model are stable over time. The results suggest that many cross sectional methods including hedonic studies and travel cost studies could be enhanced using panel data.

Keywords: Climate Change; Impacts; Agriculture; Hedonic Models (search for similar items in EconPapers)
JEL-codes: Q1 Q12 Q51 Q54 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-agr and nep-ene
Date: 2011-06
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Related works:
Journal Article: ESTIMATING RICARDIAN MODELS WITH PANEL DATA (2011) Downloads
Working Paper: Estimating Ricardian Models With Panel Data (2011) Downloads
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