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st: dependent variable with zero mass point

From   Kit Baum <>
Subject   st: dependent variable with zero mass point
Date   Wed, 6 Sep 2006 11:23:49 -0400

Francesca said

Thank you very much for your replies to my question. I apologise for not
having specified better how my dependent variable has been obtained. It is
just a growth rate of firms, calculated as (employees at time t - employees
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 positive

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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