Specification and Selection of Econometric Models for Censored Dependent Variable-The Application of a R&D Model
Resource
經濟論文叢刊, 25(1), 073-094
Journal
經濟論文叢刊
Journal Volume
25
Journal Issue
1
Pages
73-94
Date Issued
1997-03
Date
1997-03
Author(s)
Abstract
In this paper we consider four models for censored data and discuss model specification, estimation, comparison, and selection. In particular, we adopt MSE and MAE together with the method of Leung and Yu (1996) to select a proper model. These models are then used to analyze Taiwan R&D data. The main findings of the study are separated into two parts. The first part is about model selection. The empirical results show that the adjusted Tobit model are superior to the other three models. The second part concerns the determinants of R&D intensity. The main conclusions are that R&D activities are affected by firm size, concentration, and exports. Meanwhile, the empirical results confirm Schumpter's hypothesis, "Monopoly firms have high R&D intensity."
Subjects
調整的Tobit模型
兩部門模型
Tobit模型
R&D模型
Adjusted tobit model
Two-part model
Tobit model
R&D model
Type
journal article
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