Limited-Dependent and Qualitative Variables in Econometrics (Econometric Society Monographs) (Paperback)

~ (Author) "The purpose of this book is to present methods for the analysis of some econometric models in which the dependent variables are either qualitative or..." (more)
Key Phrases: unknown sample separation, sample separation unknown, switching regression model with endogenous, Monte Carlo (more...)

Editorial Reviews

Review

'The book does an excellent job of surveying its chosen topics ... such a comprehensive treatment as this book provides has previously been lacking. Thus the book fills an important gap in the literature. It will no doubt be widely read and used. It should be useful both to individuals interested in these topics at a theoretical level and those interested in applications. In the latter regard, an excellent feature of the book is that it contains a lot of empirical examples.' Journal of the American Statistical Association

'... this book represents a significant contribution to the literature on limited dependent and qualitative variables. It should serve as a major reference for researchers doing empirical work with these models. It should also be useful to graduate students as well as econometric theorists.' American Journal of Agricultural Economics

'To summarise, the book contains a very useful and clearly written account of many of the aspects of the limited dependent and qualitative variable models with an extensive use of empirical examples. The econometric issues raised by the models are neatly produced without taxing the reader too greatly. There will undoubtedly be other books appearing in the near future in the same area. It is to Maddala's credit that he has produced a book which, by virtue of its extensive coverage, will be very hard to beat.' The Economic Journal

Product Description

This book presents the econometric analysis of single-equation and simultaneous-equation models in which the jointly dependent variables can be continuous, categorical, or truncated. Despite the traditional emphasis on continuous variables in econometrics, many of the economic variables encountered in practice are categorical (those for which a suitable category can be found but where no actual measurement exists) or truncated (those that can be observed only in certain ranges). Such variables are involved, for example, in models of occupational choice, choice of tenure in housing, and choice of type of schooling. Models with regulated prices and rationing, and models for program evaluation, also represent areas of application for the techniques presented by the author.

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Product Details

• Paperback: 401 pages
• Publisher: Cambridge University Press (June 27, 1986)
• Language: English
• ISBN-10: 0521338255
• ISBN-13: 978-0521338257
• Product Dimensions: 8.9 x 6 x 0.8 inches
• Shipping Weight: 1.1 pounds (View shipping rates and policies)
• Average Customer Review: 4.6 out of 5 stars  See all reviews (5 customer reviews)
• Amazon.com Sales Rank: #88,021 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

9 of 9 people found the following review helpful:

5.0 out of 5 stars Good, but are you REALLY sure you need this?, February 3, 2005

By	Sabad One - See all my reviews

This book surely is a classic treatment of limited dependent variable models. However, I suspect most researchers, and definitely almost all graduate stduents will NOT need this book.

1) First, it is VERY outdated. Note that this book has been written in 1983. That is more than *20* years ago. There is nothing here on nonpametric and semiparametric models, which are becoming the standard in this field. For this, a good reference would be Pagan and Ullah, which also contain results for nonparametric and semiparametric general density and regression estimation. The fact that this book is outdated not only means that lots and lots of important tools are not covered here, but it also means that it covers many results and estimators that are no longer considered important.

2) Second, and especially if you are a graduate student, all or almost all the results you will need for your courses is covered very well in textbooks that also cover a wealth of other materials (such as Wooldridge, Amemiya, Ruud, Davidson and McKinnon etc.).

So, overall, do not buy this book simply because it's in your syllabus. Have a look at it first in a library, and then decide if you really need it. But chances are that you won't. The book still deserved 5 stars for what it meant when it was first published.

6 of 7 people found the following review helpful:

5.0 out of 5 stars A Classic, August 2, 1999

By A Customer

This book is a classic, having educated generations of Economists on how to do micro-econometrics. But, published in 1983, it is rather out of date and crying out for a new edition.

5 of 6 people found the following review helpful:

4.0 out of 5 stars For Probit and Tobit Regressions....This is the book to have, August 4, 1998

By A Customer

Any graduate student must have this book on his shleves...Maddala explains probit, logit, tobit regressions very clearly....Examples are concrete and based on daily problems....A must have!!!