33_PanelData - Panel data Wooldridge 13,14 73-261 Y....

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Unformatted text preview: Panel data Wooldridge 13,14 73-261 Y. Kryukov CMU, Tepper School of Business November 22, 2010 Y. Kryukov (CMU) 73-261: Panel data Nov-22 1 / 12 Announcements HW 10 is due next Monday HW11 will be due next Friday, based on today&s and next Monday&s lecture Final project is posted. Due Monday December 13 You know all you need to do it Y. Kryukov (CMU) 73-261: Panel data Nov-22 2 / 12 Overview 3.3 Panel data Di/erencing Fixed e/ects Random e/ects Y. Kryukov (CMU) 73-261: Panel data Nov-22 3 12 Panel data Subjects i = 1 , ..., N Time periods t = 1 , ..., T E.g. cities, school districts, companies Or survey same family every 2-3 years Balanced panel &data for all i t Unbalanced &missing some obsevations Companies open close Families move Key issues: &individual di/erences (across i ) &serial correlation (along t ) Y. Kryukov (CMU) 73-261: Panel data Nov-22 4 12 Two-year panel: setup t = 1 , 2; years do not have to be consecutive y it = + 1 x it + 2 d t + a i + u it Pay close attention to subscripts...
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33_PanelData - Panel data Wooldridge 13,14 73-261 Y....

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