Structural Estimation of Psychiatric Hospital Stays

Gordana Colby and Paul Rilstone

Social and Economic Dimensions of an Aging Population Research Papers from McMaster University

Abstract: This paper develops and estimates a structural model to explain lengths of stay of psychiatric patients as the joint decision of patients and caregivers. The hazard rates are estimated using Weibull specifications for the duration dependence and a multivariate version of the Gamma distribution to allow for unobserved and correlated heterogeneity. The main results indicate that the hazard rate for the caregivers' is increasing while that for the patients' is decreasing. Moreover, the older the patient is, the lower is the hazard rate for both patients and caregivers. This model can also be applied to many retirement and aging decisions including: time to retirement between spouses, financial planning, and health related retirement decisions.

Keywords: psychiatric; hazard rate (search for similar items in EconPapers)
JEL-codes: C41 (search for similar items in EconPapers)
Pages: 39 pages
Date: 2000-09
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:mcm:sedapp:32

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