Dynamic Optimization in Models for State Panel Data: A Cohort Panel Data Model of the Effects of Divorce Laws on Divorce Rates
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2011-06-14
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We present a new approach to the estimation of dynamic models using panel data, not on individuals, but aggregated to some level such as the school, county or state. This approach embeds the reduced form implications of dynamic optimization for exiting a chosen state (via divorce, dropping out, employment, etc.) into a model suitable for estimation with state panel data or similar aggregates (county, SMSA, etc.). With forward looking behaviors, exogenous changes in laws or rules give rise to selection effects on those considering entry and surprise effects for those who have already entered. The application to the effects of divorce laws on divorce rates.
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Scholars@Duke
Marjorie B. McElroy
Professor McElroy focuses her research on the subjects of labor, demand systems, and financial economics. She has completed several of her research projects under the funding provided by National Science Foundation grants, including her latest work on the economics of the family in relation to bargain decision-making and marriage markets. She is also currently investigating altruism in marriage markets and bargaining on the core in marriage markets. She has also completed studies involving the investigation of international populations, such as her work with D. Yang on, “Carrots and Sticks: Fertility Effects on China’s Population Policies.” She has collaborated with her contemporaries on several projects, including her earlier work with Hwei-ju Chen, R. Gnanadesikan, and J.R. Kettenring entitled, “A Statistical Study of Groupings of Corporations,” and her project with T.J. Kniesner and Stephen Wilcox on, “Family Structure, Race, and the Feminization of Poverty.” One of her recent published studies, which she completed independently, is entitled, “What’s New with Nash-Bargained Household Demands?”
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