Hello! I am very sorry for the disturbance but I would be very grateful if you could help me with a problem I came up with. I am examining the relationship between labor force participation and health status (10 countries, 8 years).
I run a simple pooled probit model and I was wondering what is the correct interpretation I should give. For example, if I find the coefficient for education equal to 0.4, should I say that those with higher education are more likely to participate? Or, that those with higher education are 40% more likely to participate in the labor force? If not, can I do that with the marginal effects I estimated?
Then, I estimated a fixed and a random effects logit model. The interpretation is analogous to the above? Thanks in Advance! Dimitris Nikolaou
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