1 ESTIMATING SAVING FUNCTIONS WITH A ZERO-INFLATED BIVARIATE TOBIT MODEL *
by
Alessandra Guariglia
,
Atsushi Yoshida
BibTeX
@MISC{Guariglia_1estimating,
author = {Alessandra Guariglia and Atsushi Yoshida},
title = {1 ESTIMATING SAVING FUNCTIONS WITH A ZERO-INFLATED BIVARIATE TOBIT MODEL *},
year = {}
}
Bookmark
 |
 |
 |
 |
 |
 |
OpenURL
Abstract
A zero-inflated bivariate Tobit model is developed to jointly estimate the determinants of saving in the form of bank deposits and voluntary contributions to Personal Pension Plans (PPP) in Britain. This model allows us to deal with the under-reporting of saving. We show that the estimates obtained with a standard bivariate Tobit model are seriously biased compared with those obtained using the zero-inflated model.
