NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Robert Mendelsohn

School of Forestry & Environmental Studies
Yale University
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NBER Working Papers and Publications

June 2011Estimating Ricardian Models With Panel Data
with : w17101
Many nonmarket valuation models, such as the Ricardian model, have been estimated using cross sectional methods with a single year of data. Although multiple years of data should increase the robustness of such methods, repeated cross sections suggest the results are not stable. We argue that repeated cross sections do not properly specify the model. Panel methods that correctly specify the Ricardian model are stable over time. The results suggest that many cross sectional methods including hedonic studies and travel cost studies could be enhanced using panel data.

Published: Emanuele Massetti & Robert Mendelsohn, 2011. "Estimating Ricardian Models With Panel Data," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 2(04), pages 301-319. citation courtesy of

 
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