Subjective Well-Being and the Family: Results from an Ordered Probit Model with Multiple Random Effects
Rainer Winkelmann ()
No 1016, IZA Discussion Papers from Institute of Labor Economics (IZA)
The previous literature on the determinants of individual well-being has failed to fully account for the interdependencies in well-being at the family level. This paper develops an ordered probit model with multiple random effects that allows to identify the intrafamily correlation in well-being. The parameters of the model can be estimated with panel data using Maximum Marginal Likelihood. The approach is illustrated in an application using panel data for the period 1984-1997 from the German Socio-Economic Panel in which both inter-generational and intra-marriage correlations in well-being are estimated.
Keywords: error components; German Socio-Economic Panel; ordered probit model (search for similar items in EconPapers)
JEL-codes: C23 C25 I31 J19 (search for similar items in EconPapers)
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Published in: Empirical Economics, 2005, 30 (3), 749-761
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Journal Article: Subjective well-being and the family: Results from an ordered probit model with multiple random effects (2005)
Working Paper: Subjective Well-Being and the Family: Results from an Ordered Probit Model with Multiple Random Effects (2004)
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