Applied Economics Letters · 1998 · 109 citations · 6 references
Social SciencesEconomicsEconometricsFinancial EconometricsFinancial EconomicsBankruptcyCredit RiskLoan Default PredictionLog-likelihood FunctionsLog-likelihood RatioProbit Regression
A new Hausman test is presented for the exogeneity of a dummy variable in a probit model. It is very easy to implement because of the equivalence of the log likelihood functions for bivariate probit and recursive probit. The procedure is applied to a model of student loan default due to Knapp and Seaks (1992).
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Specification Tests in Econometrics
Jerry A. Hausman · Econometrica · 1978 · 18.4K citations
On the Estimation of Triangular Structural Systems
Kajal Lahiri, Peter Schmidt · Econometrica · 1978 · 134 citations