Consider the hazard model h(t|x) = exp(x'ß). Suppose we observe a random sample of {(x,, t.)}where r, is observed indivi

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Consider The Hazard Model H T X Exp X Ss Suppose We Observe A Random Sample Of X T Where R Is Observed Indivi 1 (53.96 KiB) Viewed 40 times

Consider the hazard model h(t|x) = exp(x'ß). Suppose we observe a random sample of {(x,, t.)}where r, is observed individual characteristics and t, is the duration of unemployment. Assume that E[ra] is invertible. (a) Discuss identification of 3. (b) What is the asymptotic variance of MLE? (c) What's the limitation of this model for investigating if the unemployment duration unemployment ? (d) Suppose t, is censored above by T. Write the likelihood in this case. Here are some useful results for this problem. 1.When T has density A exp(-At), E[T] = 1/A 2.When T has density A exp(-At), E[T|T>T] =T + 1/A