Higher education funding reforms in England: the distributional effects and the shifting balance of costs



The parametric copula used in this paper is the t-copula, which outperformed all but
one of the other parametric copulas we tested (model selection tests are presented in
section Dearden et al, 2006). Its parameters are simple to interpret and it is relatively
straightforward to estimate and simulate, making it considerably attractive

га

t*j117

The t-topula is the dependence structure implicit in a bivariate t distribution.34 It has
two parameters: the correlation parameter, ρ, and the degrees of freedom parameter, ν.
These can be broadly interpreted as describing the overall level of immobility in the
distribution and the excess immobility in the tails of the distribution. The function,
describes the way in which we restrict the copula parameters to depend on experience
and the observable characteristics. We assume the following functional forms:

\* MERGEFORMAT (.)

where and are monotonic functions designed to keep ρ and ν inside their respective
ranges:

Obj121

\* MERGEFORMAT (.)

34 For detailed information on the t-copula, including a formal definition, see Demarta and McNeil
(2005).

38



More intriguing information

1. Estimation of marginal abatement costs for undesirable outputs in India's power generation sector: An output distance function approach.
2. Sex-gender-sexuality: how sex, gender, and sexuality constellations are constituted in secondary schools
3. Evolutionary Clustering in Indonesian Ethnic Textile Motifs
4. Volunteering and the Strategic Value of Ignorance
5. The Impact of Financial Openness on Economic Integration: Evidence from the Europe and the Cis
6. THE UNCERTAIN FUTURE OF THE MEXICAN MARKET FOR U.S. COTTON: IMPACT OF THE ELIMINATION OF TEXTILE AND CLOTHING QUOTAS
7. Gerontocracy in Motion? – European Cross-Country Evidence on the Labor Market Consequences of Population Ageing
8. The name is absent
9. The name is absent
10. The name is absent