Estimating Ricardian models with panel data

Description

"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"--National Bureau of Economic Research web site.

Subjects

Series Statement

• NBER working paper series -- working paper 17101
• Working paper series (National Bureau of Economic Research : Online) -- working paper no. 17101.

Links

• http://www.nber.org/papers/w17101