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st: Multivariate Tobit
I am trying to analyze how spouses who save structure their savings
portfolio. That is, what percentage of their savings is in joint accounts,
or under his name, or under her name. A basic approach would be to use three
Tobit models given that the three dependent variables are bounded between 0
and 100. However, I want to estimate them jointly as a Multivariate Tobit
given that the errors are likely to be correlated due to unobserved
household characteristics. And, I would like to impose restrictions on the
coefficients taking advantage of the fact that we know the sum of the three
dependent variables has to equal 100.
Does anyone have and is willing to share a routine to do the Multivariate
Tobit (ideally with upper and lower limits and with restrictions) ? Or any
suggestions on how to proceed?
I would appreciate any help!
Daniel J. Evans School of Public Affairs
University of Washington
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