Authors
Abstract
This article describes a new Stata command, bicop, for fitting a model consisting of a pair of ordinal regressions with a flexible residual distribution, with each marginal distribution specified as a two-part normal mixture, and stochastic dependence governed by a choice of copula functions. The bicop command generalizes the existing biprobit and bioprobit commands which assume a bivariate normal residual distribution. The command and post estimation options are presented and explained with an illustrative application to data on financial wellbeing from the UK Understanding Society Panel Survey.
Subjects
Link
https://understanding.webskin.dev/research/publications/working-paper/understanding-society/2015-02
Paper download