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Table 3 Parameter estimates for the BG models (with beta and GB1 marginals) fitted to the variables income & health by maximum likelihood (standard errors in parenthesis)

From: Bivariate beta-generated distributions with applications to well-being data

Variables: income & health

Year

BG model with beta marginals

BG model with GB1 marginals

p ̂ 1

p ̂ 2

q ̂

p ̂ 1

p ̂ 2

q ̂

â 1

â 2

1980

3.4799

5.9823

2.9491

7.2415

4.5699

2.7798

0.4964

1.1929

 

(0.3103)

(0.5360)

(0.2624)

(2.1497)

(1.0817)

(0.2855)

(0.1417)

(0.2674)

1985

3.8895

7.7393

3.3336

19.9607

7.1397

2.7940

0.1918

0.9025

 

(0.3458)

(0.6913)

(0.2959)

(11.3280)

(1.8739)

(0.2993)

(0.1072)

(0.2316)

1990

3.7983

8.0223

3.1630

19.2882

10.1747

2.5143

0.18067

0.63504

 

(0.3379)

(0.7173)

(0.2808)

(10.8390)

(3.4854)

(0.2721)

(0.1003)

(0.2148)

1995

3.4082

7.5345

2.7867

12.4184

11.5787

2.2338

0.2457

0.5300

 

(0.3039)

(0.6760)

(0.2478)

(4.6027)

(4.5656)

(0.2401)

(0.0901)

(0.2104)

2000

3.0781

7.0973

2.3944

11.9092

7.5709

1.9876

0.2346

0.7667

 

(0.2752)

(0.6396)

(0.2132)

(4.7419)

(2.2840)

(0.2109)

(0.0935)

(0.2342)

2005

2.7891

6.8378

2.0250

19.9351

4.0164

1.7675

0.1323

1.4058

 

(0.2501)

(0.6197)

(0.1805)

(19.3729)

(1.2603)

(0.1863)

(0.1265)

(0.4381)

2010

2.4296

6.5389

1.6754

4.4081

4.2348

1.5941

0.5388

1.4186

 

(0.2188)

(0.5974)

(0.1496)

(1.2981)

(1.4324)

(0.1627)

(0.1582)

(0.4772)