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Using Survival Analysis In Economics

Author

Listed:
  • Daniela-Emanuela Danacica

    (Faculty of Economics and Business Administration, Constantin Brancusi University of Tirgu-Jiu)

  • Ana-Gabriela Babucea

    (Faculty of Economics and Business Administration, Constantin Brancusi University of Tirgu-Jiu)

Abstract

The main objective of this paper is to examine methodological and applicative problems of sur-vival analysis in the analysis of socio-economic phenomena. Although at the beginning the survival analysis was used to study death as an event specific to medical studies, as from the '70s these statistical techniques have been increasingly used in economics and social sciences. Besides the fact that survival data are not normally distributed, they often contain incomplete information, censored subjects. Censoring of subjects may be on the right or left. It is vital to include censored subjects in the statistical analysis. But, according to Greene (2003), a very large number of censored subjects may affect the accuracy of statistical tests. We presented in this paper methodological aspects of Kaplan-Meier analysis, and statistical significance testing for the resulted survival curves. We have also concentrated on the Cox regression, and we have set out the concept of hazard, baseline hazard, hazard rate, hazard rate interpretation. An application of the survival analy-sis in unemployment is presented.

Suggested Citation

  • Daniela-Emanuela Danacica & Ana-Gabriela Babucea, 2010. "Using Survival Analysis In Economics," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 57, pages 439-450, november.
    • Handle: RePEc:aic:journl:y:2010:v:57:p:439-450
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    References listed on IDEAS

    as
    1. Kettunen, Juha, 1997. "Education and unemployment duration," Economics of Education Review, Elsevier, vol. 16(2), pages 163-170, April.
    2. Moffitt, Robert A., 1999. "New developments in econometric methods for labor market analysis," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 24, pages 1367-1397, Elsevier.
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    Cited by:

    1. Mojdeh , Zahra & Tehranchian , Amir Mansour & Jafari Samimi , Ahmad & Rasekhi , Saeed, 2020. "Analyzing the Impact of Leverage Rate on Export Survival: The Case of Iranian Firms," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 15(1), pages 25-34, January.
    2. Darabă Gabriel & Sandu Christiana Brigitte & Jaba Elisabeta, 2017. "Estimation of Unemployment Duration in Botoşani County Using Survival Analysis," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 155-161, June.
    3. Ciprian Ioan Rujescu & Oana Maria Sicoe-Murg & Ioana Anda Milin & Ramona Ciolac, 2024. "Survival Probability of Tourist Accommodation Establishments in Romania in Relation to the Action of Some Relevant Factors," Sustainability, MDPI, vol. 16(15), pages 1-25, July.
    4. Pişkin, Erhan, 2017. "Türkiye İhracatının Ölüm-Kalım Meselesi [The Matter of Survival for Turkish Exports]," MPRA Paper 81459, University Library of Munich, Germany.
    5. Mourao, Paulo Reis, 2018. "Surviving in the shadows—An economic and empirical discussion about the survival of the non-winning F1 drivers," Economic Analysis and Policy, Elsevier, vol. 59(C), pages 54-68.

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    More about this item

    Keywords

    survival analysis; Kaplan-Meier method; censored subjects;
    All these keywords.

    JEL classification:

    • C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure

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