[Limdep Nlogit List] Bivariate Probit model with partial observability
Alex Rutt
amr59 at cam.ac.uk
Thu Feb 25 00:46:47 EST 2010
Dear LIMDEP users,
I am currently trying to run the Abowd and Farber version of the
bivariate probit model with partial observability, to see what causes
participation in the IMF and I seem to be running into some problems. It
is easiest if I show the problem:
I am using the command:
PROBIT; LHS=IMF; RH1=XG; RH2=XI; SELECTION $
+--------+--------------+----------------+--------+--------+----------+
|Variable| Coefficient | Standard Error |b/St.Er.|P[|Z|>z]|
Mean of X|
+--------+--------------+----------------+--------+--------+----------+
---------+Index function for probability
Constant| -2.16815707 1.82257143 -1.190 .2342
RESERVES| -.24271329 .16623773 -1.460 .1443 3.51233875
SURPLUS | -.03111813 .03224380 -.965 .3345 -2.53184732
TRADE | -.00954696 .00626423 -1.524 .1275 76.6414535
NUMBER | .06571627 .04534212 1.449 .1472 62.7368839
ELECTION| .29031683 .43239393 .671 .5020 .22575517
INVESTME| -.02962498 .02376683 -1.246 .2126 21.1233295
LIMF | 3.14136664 2.33501147 1.345 .1785
.38712242
LRES | .27389091 .17432870 1.571 .1162
1.30658217
LSUR | -.01134824 .05324245 -.213 .8312
-1.01219043
LTRADE | .00841883 .00698163 1.206 .2279 28.4096367
LNUMBER | -.06133548 .05465241 -1.122 .2617 24.5604134
LELECT | -.74581275 .53669143 -1.390 .1646 .07869634
LINVEST | .02877999 .02636821 1.091 .2751 6.73525817
Constant| .83231637 1.65477100 .503 .6150
BOP | .00153257 .01117504 .137 .8909 .000000
NUMBER | -.03432942 .02431216 -1.412 .1579 .000000
REGIME | .77239875 .21497799 3.593 .0003 .000000
LIMF | 270.476421 .195868D+14 .000 1.0000 .000000
LBOP | -2.56202237 .338401D+12 .000 1.0000
.000000
LNUMBER | 2.89944129 .439716D+12 .000 1.0000 .000000
LREGIME | -380.076163 .345231D+13 .000 1.0000 .000000
Basically the last four terms are commind out with ver high standard
errors ad larger than expected results for the coefficients.
I removed these variables and all that happened was that the next four
variables experienced the same problem.
I was wondering whether anyone knew what was happening here and if it
has occured else where.
Thanks for any help,
Alex Rutt
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