Hi all,
I have some problems with the output of the Tobit command. I always
thought that the coefficients presented after the tobit command are the
"pure" tobit coefficients, i.e. if I want to compare them to OLS
coefficients I have to rescale them by an adjustment factor (which
depends on whether I want to get the unconditional effect E(y | y,x), or
the conditional effect E(y | y>0,x), like described e.g. in Wooldridge
(2003, ch. 17.2).
But then I had a closer look at the Stata manual (Stata 8) because I
wanted to learn more about the possibilities with mfx compute,
predict(). But in the first tobit example in the manual (p.252) the
tobit coefficient is directly compared to the OLS coefficient. So I am a
bit confused what the output of the tobit command really is now and how
to calculate which effects....
Maybe someone can help me here.
Thanks in advance
Stefan
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