Estimating Ricardian Models with Panel Data

29 Pages Posted: 6 Jun 2011

See all articles by Emanuele Massetti

Emanuele Massetti

Georgia Institute of Technology; CESifo (Center for Economic Studies and Ifo Institute); CMCC - Euro Mediterranean Centre for Climate Change

Robert O. Mendelsohn

Yale University - School of Forestry & Environmental Studies; Yale University

Multiple version iconThere are 2 versions of this paper

Date Written: June 2011

Abstract

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.

Suggested Citation

Massetti, Emanuele and Mendelsohn, Robert O., Estimating Ricardian Models with Panel Data (June 2011). NBER Working Paper No. w17101. Available at SSRN: https://ssrn.com/abstract=1857804

Emanuele Massetti (Contact Author)

Georgia Institute of Technology ( email )

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CESifo (Center for Economic Studies and Ifo Institute)

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CMCC - Euro Mediterranean Centre for Climate Change

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Robert O. Mendelsohn

Yale University - School of Forestry & Environmental Studies ( email )

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New Haven, CT 06511
United States

Yale University ( email )

New Haven, CT 06520
United States
2034325128 (Phone)

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