期刊
APPLIED ECONOMICS LETTERS
卷 19, 期 10, 页码 987-992出版社
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/13504851.2011.610733
关键词
censored regression model; interaction terms; marginal and interaction effects
类别
Interaction effects capture the impact of one explanatory variable x(1) on the marginal effect of another explanatory variable x(2). To explore interaction effects, the so-called interaction terms x(1)x(2) are typically included in estimation specifications. While in linear models the effect of a marginal change in the interaction term is equal to the interaction effect, this equality generally does not hold in nonlinear specifications (Ai and Norton, 2003). This article provides for a general derivation of marginal and interaction effects in both linear and nonlinear models and calculates the formulae of the marginal and interaction effects resulting from the Two-Part Model (2PM), a commonly employed censored regression model. Drawing on a survey of automobile use from Germany, we illustrate several subtleties inherent to the substantive interpretation of interaction effects gleaned from nonlinear models, such as the 2PM.
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