Measuring welfare effects in models with random coefficients
研究随机系数模型中边际货币价值的分布，发现其分布特征对系数分布假设敏感，但中位数比均值更稳健。
Abstract In economic research, it is often important to express the marginal value of a variable in monetary terms. In random coefficient models, this marginal monetary value is the ratio of two random coefficients and is thus random itself. In this paper, we study the distribution of this ratio and particularly the consequences of different distributional assumptions about the coefficients. It is shown that important characteristics of the distribution of the marginal monetary value may be sensitive to the distributional assumptions about the random coefficients. The median, however, is much less sensitive than the mean. Copyright © 2006 John Wiley & Sons, Ltd.