Title: Parametric and semi-parametric modelling of vacation expenditures
Abstract: Journal of Applied EconometricsVolume 11, Issue 1 p. 59-76 Research Article Parametric and semi-parametric modelling of vacation expenditures Bertrand Melenberg, Bertrand Melenberg Tilburg University, Department of Econometrics, PO Box 90153, 5000 LE Tilburg, The NetherlandsSearch for more papers by this authorArthur Van Soest, Arthur Van Soest Tilburg University, Department of Econometrics, PO Box 90153, 5000 LE Tilburg, The NetherlandsSearch for more papers by this author Bertrand Melenberg, Bertrand Melenberg Tilburg University, Department of Econometrics, PO Box 90153, 5000 LE Tilburg, The NetherlandsSearch for more papers by this authorArthur Van Soest, Arthur Van Soest Tilburg University, Department of Econometrics, PO Box 90153, 5000 LE Tilburg, The NetherlandsSearch for more papers by this author First published: January 1996 https://doi.org/10.1002/(SICI)1099-1255(199601)11:1<59::AID-JAE371>3.0.CO;2-ACitations: 87AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onEmailFacebookTwitterLinkedInRedditWechat Abstract We analyse several limited dependent variable models explaining the budget share that Dutch families spend on vacations. To take account of the substantial number of zero shares, two types of models are used. The first is the single-equation censored regression model. We estimate and test several parametric and semi-parametric extensions of the Tobit model. Second, we consider two-equation models, in which the participation decision and the decision on the amount to spend are treated separately. The first decision is modelled as a binary choice model; the second as a conditional regression. We estimate and test parametric and semi-parametric specifications. References Amemiya, T. (1973), 'Regression analysis when the dependent variable is truncated normal', Econometrica, 41, 997–1016. 10.2307/1914031 Web of Science®Google Scholar Amemiya, T. 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