In this paper we examine the impact of the combined state and federal mortgage interest tax subsidies to homeownership on homeownership attainment, using panel data from 1984 to 2007 and exploiting the fact that the value of these subsidies may vary by income group across states and over time and depending on local housing market conditions and lending standards. We also exploit the fact that h...

Time-of-use and real-time spot pricing tariffs in conjunction with direct load control of water heaters was offered to residential electricity consumers in a large-scale demand response experiment. Hourly data from the experiment on consumption, temperature, wind, and hours of daylight comprise a large panel data set, which are analysed with a fixed effects regression model. Price responses are...

This paper proposes a new semi-parametric identification and estimation approach to multinomial choice models in a panel data setting with individual fixed effects. Our approach is based on cyclic monotonicity, which is a defining feature of the random utility framework underlying multinomial choice models. From the cyclic monotonicity property, we derive identifying inequalities without requir...

China’s Approved Destination Status (ADS) policy governs foreign leisure travel by citizens to ADS-designated countries. To model the effects of ADS on Chinese visitor arrivals, we specify a model of demand for a representative Chinese consumer who values trips to n differentiated foreign destinations. Using panel data for Chinese visitor arrivals for 61 countries from 1985 to 2005, we estimate...

This article estimates the price elasticities of the demand for mobile telephone calls and the demand for messages for Portugal. We use a panel of individual level data. In order to account for the unobserved individual heterogeneity and for the data censoring, we estimate a Tobit model for panel data with individual random effects. The demand for calls and the demand for messages are inelastic...

Several charter schools have shown great success in improving the academic performance of students from low-performing school districts. It has been argued, however, that their success may be due to student selection. This paper tests of two aspects of these charter schools’ reforms using nationally representative panel data on student behavior and academic performance. First, I examine a polic...

How much retirement income is needed in order to maintain one’s living standard at old age? As it is difficult to find a firm basis for an empirical treatment of this question, we employ a novel approach to assessing an adequate replacement rate vis-à-vis income in the pre-retirement period. We subject indications regarding satisfaction with current income as collected in the German Socio-Econo...

This paper uses panel data from the 2002-2010 waves of the German Socio-Economic Panel dataset (SOEP) to assess the impact of income deprivation upon individual mental wellbeing. Unobserved heterogeneity is controlled for by means of a random effects model extended to include a Mundlak term and explicit controls for the respondents’ personality traits. The paper shows that conditional on the ho...

A question fundamental to sustainable economic growth is whether a poor region tends to grow faster than a rich one, such that the poor region catches up with the rich region in terms of the level of per capita income. In this article, we apply the spatial panel data approach to the analysis of regional income convergence across 177 economic areas in the contiguous US states over the period fro...

In this paper, we use a newly available panel data set that constitutes a representative sample of rural India over the period 1971-1999 to examine the role of economic change as a source of fertility decline. We first develop a simple dynamic model of fertility choice that incorporates the possibility of cost-of-time effects, a quantity-quality tradeoff, and increased access to health and fami...