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    Modelling Category Inflation with Multiple Inflation Processes: Estimation, Specification and Testing

    Access Status
    In process
    Authors
    Brown, S.
    Harris, Mark
    Spencer, C.
    Date
    2020
    Type
    Journal Article
    
    Metadata
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    Citation
    Brown, S. and Harris, M.N. and Spencer, C. 2020. Modelling Category Inflation with Multiple Inflation Processes: Estimation, Specification and Testing. Oxford Bulletin of Economics and Statistics. 82: pp. 1342-1361.
    Source Title
    Oxford Bulletin of Economics and Statistics
    DOI
    10.1111/obes.12366
    ISSN
    0305-9049
    Faculty
    Faculty of Business and Law
    School
    School of Economics, Finance and Property
    URI
    http://hdl.handle.net/20.500.11937/81790
    Collection
    • Curtin Research Publications
    Abstract

    © 2020 The Department of Economics, University of Oxford and John Wiley & Sons Ltd Zero-inflated ordered probit (ZIOP) and middle-inflated ordered probit (MIOP) models are finding increasing favour in the discrete choice literature. We propose generalizations to these models – which collapse to their ZIOP/MIOP counterparts under a set of simple parameter restrictions – with respect to the inflation process. These generalizations form the basis of a new specification test of the inflation process in ZIOP and MIOP models. Support for our generalization framework is principally demonstrated by revisiting a key ZIOP application from the economics literature, and reinforced by the reassessment of an important MIOP application from political science. Our specification test supports the generalized models over the original ZIOP/MIOP ones, suggesting an important role for it in modelling zero- and middle-inflation processes.

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