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st: dependent variable with zero mass point
Thank you very much for your replies to my question. I apologise for not
having specified better how my dependent variable has been obtained.
just a growth rate of firms, calculated as (employees at time t -
at time t-1)/employees at time t-1. I have 15678 observations, of which
23.7% are negative values, 39.2% are zeros and the remaining are
My colleague (and from the sound of it Francesca's countryman) Fabio
Schiantarelli dealt with this problem in a paper in Rev. Econ. Stat.
looking at plant-level investment data, which are similarly
characterized by a large number of 'we didn't get any new machines
this year'. Have a look at
to which there is free access.
Kit Baum, Boston College Economics
An Introduction to Modern Econometrics Using Stata:
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