Essays in applied microeconometrics

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URL:	https://madoc.bib.uni-mannheim.de/1421
URN:	urn:nbn:de:bsz:180-madoc-14214
Document Type:	Doctoral dissertation
Year of publication:	2007
The title of a journal, publication series:	None
Place of publication:	Mannheim
University:	Universität Mannheim
Evaluator:	Börsch-Supan, Axel
Date of oral examination:	15 June 2007
Publication language:	English
Institution:	Außerfakultäre Einrichtungen > VWL insb Makroök u Wirtschaftspol (Börsch-Supan 1989-2011)
Subject:	330 Economics
Classification:	JEL: I10 C1 C3 D8 G11 ,
Subject headings (SWD):	Ökonometrie , Gesundheit , Entscheidung bei Risiko
Keywords (English):	Econometrics, Health, Decision under Risk
Abstract:	The dissertation consists of 5 self-contained essays on two different topics: The relationship between health and income; and the estimation and use of individual-level preference parameters. In the first chapter, remaining life expectancy at age 65 is estimated conditional on earnings over the life-cycle that were relevant for the German public pension system. The resulting correlation puts a lower bound of six years on the difference between the lowest and the highest groups. In the second chapter, we move beyond a mere correlation analysis and estimate the effect of structural changes in the income distribution on health outcomes. The results show that such innovations cannot explain the correlation in the previous chapter. The last three chapters concern the estimation of individual-level preference parameters. Chapters three and four make use of an economic experiment carried out on the CentERpanel. They show that the use of student populations is not innocuous when it comes to estimating distributions of preference parameters; and it is seriously misleading for error rates. Observed demographic variables can explain only a very small fraction of overall variation in behaviour. The last chapter uses the German SAVE data to go one step further by using such preference parameters in a portfolio choice model. Results show that using a measurement model is important in order to estimate preference parameters because any single measure suffers from serious error. The impact of wealth and preferences on portfolio choice decisions is as expected.
Translation of the title:	Aufsätze zur angewandten Mikroökonometrie (German)
Translation of the abstract:	Die Dissertation besteht aus fünf eigenständigen Aufsätzen zu zwei Themengebieten: Dem Zusammenhang von Gesundheit und Einkommen einerseits; und der Schätzung und Verwendung von individuellen Präferenzparametern andererseits. (German)
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