RE: [Gretl-users] Heckit rho
Very helpful. Perhaps a brief note in the User's Manual would be useful as well.
Thanks,
-----Original Message-----
From: gretl-users-bounces(a)lists.wfu.edu [mailto:gretl-users-bounces@lists.wfu.edu] On
Behalf Of Riccardo (Jack) Lucchetti
Sent: Tuesday, April 07, 2009 8:47 AM
To: Gretl list
Subject: Re: [Gretl-users] Heckit rho
On Tue, 7 Apr 2009, Starr, Brian wrote:
At the bottom of the Heckit output is a “rho” metric. Does anyone
know what it is measuring?
That's the estimated correlation coefficient between the disturbance term of the main
equation and the one of the selection equation. AFAIK, calling it "rho" is
fairly standard, but I may be wrong. Do you find it too cryptic?
Riccardo (Jack) Lucchetti
Dipartimento di Economia
Università Politecnica delle Marche
r.lucchetti(a)univpm.it
http://www.econ.univpm.it/lucchetti