Re: st: interpreting coefficients in discrete time hazard model

["Daniel H. Simon" <dhs29@cornell.edu>]

Thank you very much! I will look again at your notes. I have read some of 
your notes before, and have found them very helpful. Thanks again. Daniel

At 09:42 AM 1/14/2003 +0000, you wrote:

> 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 <dhs29@cornell.edu>
> > >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 <stephenj@essex.ac.uk>
> > >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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