Chapter

Modelling Low Income Transitions: Estimates from a Markov Model

Stephen P. Jenkins

in Changing Fortunes

Published in print July 2011 | ISBN: 9780199226436
Published online September 2011 | e-ISBN: 9780191728457 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199226436.003.0011
Modelling Low Income Transitions: Estimates from a Markov Model

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This chapter looks at the similar issues as Chapter 9, but does so using a multivariate Markovian model of poverty transitions rather than hazard regression methods. The advantages and disadvantages of this complementary approach are explained. The analysis demonstrates that taking account of so-called initial conditions and sample drop-out issues is relevant when modelling poverty entries and exits. Despite these complications, the Markovian model's results are also reassuring in the sense that the patterns of differences across individuals in the experience of poverty that are found are similar to those derived using hazard regression models.

Keywords: Markovian model; poverty exit; poverty entry; hazard regression model; initial conditions; sample drop-out

Chapter.  11629 words. 

Subjects: Financial Markets

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