a r t i c l e i n f o The paper examines the role of newswire messages during the European debt crisis. In particular, this study quantifies how this news metric, revealed by statements electronically recorded, as well as by newspaper articles, affects credit ratings. Through a sample of three European countries with sovereign debt problems and under strict austerity programmes, i.e., Greece, I...

It has been previously argued that there is substantial evidence that lame-duck Republican members of Congress were less supportive of the impeachment of Bill Clinton than their colleagues who returned in the 106th Congress. I show that this conclusion—based on a marginally-significant interaction term—is actually the result of two statistical artifacts: the choice of estimator used, and the in...

Elimination by aspects (EBA) is a random utility model that is considered to represent the choice process used by consumers more faithfully than logit and probit models. One limitation of the model is that it does not have a known error theory. We show that EBA can be derived by assuming that aspects have random utilities with independent, extreme value distributions. Multinomial logit and rank...

We introduce three new commands—nop, ziop2, and ziop3—for the estimation of a three-part nested ordered probit model, two-part zero-inflated models Harris Zhao (2007, Journal Econometrics 141: 1073–1099) Brooks, Harris, Spencer (2012, Economics Letters 117: 683–686), model Sirchenko (2020, Studies in Nonlinear Dynamics 24: 1) for ordinal outcomes, with both exogenous endogenous switching. The a...

Background. Undirected graphical models or Markov random fields (MRFs) are very popular for modeling multivariate probability distributions. A considerable amount of work on MRFs has focused on modeling continuous variables and unordered categorical variables also called as nominal variables. However, data from many real world applications involve ordered categorical variables also called as or...

In this document we describe the Mixture EFA model estimated in Mplus. Four types of dependent variables are possible in this model: normally distributed, ordered categorical with logit or probit link, Poisson distributed with the exponential link function, and censored variables. Inflation is not available for the Censored and Poisson variables. Suppose that we estimate a K class model with M ...

While there is growing application of generalized ordered outcome model variants (widely known as Generalized Ordered Logit (GOL) model and Partial Proportional Odds Logit (PPO) model) in crash injury severity analysis, there are several aspects of these approaches that are not well documented in extant safety literature. The current research note presents the relationship between these two var...