Description
xttobit fits random-effects tobit models. There is no command for a parametric conditional fixed effects
model, as there does not exist a sufficient statistic allowing the fixed effects to be conditioned
out of the likelihood. Honor´e (1992) has developed a semiparametric estimator for fixed-effect tobit
models. Unconditional fixed-effects tobit models may be fit with the tobit command with indicator
variables for the panels. The appropriate indicator variables can be generated using tabulate or xi.
However, unconditional fixed-effects estimates are biased.
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