Estimating Ricardian Models With Panel Data

Emanuele Massetti and Robert Mendelsohn

No 17101, NBER Working Papers from National Bureau of Economic Research, Inc

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.

JEL-codes: Q1 Q12 Q51 Q54 (search for similar items in EconPapers)
Date: 2011-06
Note: EEE
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Citations: View citations in EconPapers (52)

Published as Emanuele Massetti & Robert Mendelsohn, 2011. "Estimating Ricardian Models With Panel Data," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 2(04), pages 301-319.

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Related works:
Working Paper: Estimating Ricardian Models With Panel Data (2011)
Working Paper: Estimating Ricardian Models With Panel Data (2011)
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