Greetings,
Following up on this earlier exchange over the marginal effects from the
tobit model, I have a question regarding the STATA output:
For the following command:
tobit facil4p $demo5, ll(0);
mfx compute, predict(e(0,.));
does this give marginal effects in terms of
1) E(y|x,y>0)
OR
2) E(y|x) = P(y>0) * E(y|x,y>0)
If it is (1) (which I am pretty sure that it is) could someone please
tell me how to specify (2) in STATA.
Many thanks,
Lisa
> On Tue, 23 Mar 2004, Scott Merryman wrote:
>
> > Stefan,
> >
> > The output of -tobit- gives the estimated coefficients that are related to the
> > latent variable y*. It shows the effect of a change in a given x variable on the
> > expected value of the latent variable, holding all other x variables constant.
> > In Stata Manual example, the OLS coefficients of the latent model are compared
> > to the estimated latent effects of the tobit model E[y*|x]. But this is just
> > for illustration (see technical note, page 253) is you had uncensored sample
> > there would be no reason to use a tobit model.
> >
> > If you are comparing the OLS marginal effects estimated on the observed data,
> > than you would want use the expected unconditional of the observed data E[y|x].
> > Usually, the marginal effects of the latent variable, y*, are not of interest
> > since it is unobserved -- we only observe y* if it above a threshold. Though
> > why would you want to compare them to OLS coefficients, since the OLS
> > coefficients will be inconsistent?
> >
> > Hope this helps,
> > Scott
> >
> > ----- Original Message -----
> > From: "LACHENMAIER" <[email protected]>
> > To: <[email protected]>
> > Sent: Tuesday, March 23, 2004 8:11 AM
> > Subject: st: Tobit coefficients
> >
> >
> > > 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
> > >
> > > PS: Sorry for posting this problem again, but I have not solved the
> > > problem yet. Thanks!
> > >
> > > *
> > > * For searches and help try:
> > > * http://www.stata.com/support/faqs/res/findit.html
> > > * http://www.stata.com/support/statalist/faq
> > > * http://www.ats.ucla.edu/stat/stata/
> >
> > *
> > * For searches and help try:
> > * http://www.stata.com/support/faqs/res/findit.html
> > * http://www.stata.com/support/statalist/faq
> > * http://www.ats.ucla.edu/stat/stata/
> >
>
> Lisa M. Powell
> Research Associate Professor, University of Illinois at Chicago
> Fellow, School of Policy Studies, Queen's University
> tel: 1-312-413-8468; fax: 312-355-2801
> email: [email protected] [email protected]
>
> *
> * For searches and help try:
> * http://www.stata.com/support/faqs/res/findit.html
> * http://www.stata.com/support/statalist/faq
> * http://www.ats.ucla.edu/stat/stata/
>
Lisa M. Powell
Research Associate Professor, University of Illinois at Chicago
Fellow, School of Policy Studies, Queen's University
tel: 1-312-413-8468; fax: 312-355-2801
email: [email protected] [email protected]
*
* For searches and help try:
* http://www.stata.com/support/faqs/res/findit.html
* http://www.stata.com/support/statalist/faq
* http://www.ats.ucla.edu/stat/stata/
