Estimating Ricardian models with panel data

Arbeitspapier

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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Nota di Lavoro ; No. 50.2011

Classification and Topics

• Classification: Wirtschaft ; Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets ; Valuation of Environmental Effects ; Climate; Natural Disasters and Their Management; Global Warming
• Subject: Climate Change ; Impacts ; Agriculture ; Ricardianisches Äquivalenztheorem ; Panel ; Theorie

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Massetti, Emanuele ; Mendelsohn, Robert
• Event: Veröffentlichung
• (who): Fondazione Eni Enrico Mattei (FEEM)
• (where): Milano
• (when): 2011

Further information

• Handle: http://hdl.handle.net/10419/53323
• Last update: 10.03.2025, 11:43 AM CET