Separating the impact of macroeconomic variables and global frailty in event data
Global frailty is an unobserved macroeconomic variable. In event data contexts, this unobserved variable is assumed to impact the hazard rate of event arrivals. Attempts to identify and estimate the path of frailty are complicated when observed macroeconomic variables also impact hazard rates. It...
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| Format: | Working paper |
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University of Oxford
2013
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