On Mon, 13 Jan 2003, Daniel H. Simon wrote:
> Stephen - I just want to double-check, to be sure that I'm clear. The
> interpretation of a coefficient of 5 on ln(x) would be that the hazard rate
> increases by 5% as x increases by 1%. is that right? Thanks again. Daniel
yes (and check out that reference for fuller details about why)
Stephen
> At 11:37 AM 1/13/2003 +0000, you wrote:
> >On Fri, 10 Jan 2003 13:51:37 -0500 Daniel Simon <[email protected]>
> >wrote:
> >
> > > Hi - I am estimating a discrete time hazard model, using pgmhaz. I have
> > > several covariates that are in the form ln(x). I'm wondering how to
> > > interpret the coefficients on these variables. Specifically, when i
> > > exponentiate the estimated coefficient, b, what does exp(b) mean? For
> > > example, if the coefficient b is equal to -5, and exp(-5) is .00674, then
> > > does this say that a 1% change in x reduces the hazard by .99326? Or
> > is it
> > > something different? Thanks. Daniel
> >
> >Why might you want to exponentiate the coeff on an explanatory variable
> >that is in log form? Since -pgmhaz- estimates proportional hazard
> >regression models (using discrete time data), the model is of the form:
> > log(hazard_it) = b'X_it + c'log(Y_it)
> >with an additional gamma frailty term in -pgmhaz- Model 2.
> >Hence the coefficient c may be interpreted as the elasticity of the
> >hazard w.r.t. Y_it (or, if you will, the percentage change in the
> >hazard given a one percent change in Y_it:)
> >See the (pdf file) draft lecture notes at
> >http://www.iser.essex.ac.uk/teaching/stephenj/ec968/index.php
> >
> >
> >Stephen
> >----------------------
> >Professor Stephen P. Jenkins <[email protected]>
> >Institute for Social and Economic Research (ISER)
> >University of Essex, Colchester, CO4 3SQ, UK
> >Tel: +44 (0)1206 873374. Fax: +44 (0)1206 873151.
> >http://www.iser.essex.ac.uk
> >
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