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  • Chapter 1

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    Jennifer Kelley
    7 vizualizări14 pagini
    This document is the introduction to a panel econometrics lecture given by Prof. Dr. Kai Carstensen at the Christian Albrechts University Kiel in the summer term of 2014. It recommends Baltagi's book on econometric analysis of panel data and discusses the advantages of panel data over cross-sectional or time series data alone, such as controlling for individual heterogeneity and avoiding aggregation biases. It also notes some limitations of panel data like data collection problems and selectivity. Finally, it categorizes types of panel data as longitudinal data sets with short time series, cross-section time series with long panels, and large firm data sets with huge panels.

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    Panel econometrics

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    Chapter_1

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    This document is the introduction to a panel econometrics lecture given by Prof. Dr. Kai Carstensen at the Christian Albrechts University Kiel in the summer term of 2014. It recommends Baltagi's book on econometric analysis of panel data and discusses the advantages of panel data over cross-sectional or time series data alone, such as controlling for individual heterogeneity and avoiding aggregation biases. It also notes some limitations of panel data like data collection problems and selectivity. Finally, it categorizes types of panel data as longitudinal data sets with short time series, cross-section time series with long panels, and large firm data sets with huge panels.

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    © All Rights Reserved
    Descărcați ca PDF, TXT sau citiți online pe Scribd
    Indicator pentru conținut neadecvat
    7 vizualizări14 pagini

    Chapter 1

    Încărcat de

    Jennifer Kelley
    This document is the introduction to a panel econometrics lecture given by Prof. Dr. Kai Carstensen at the Christian Albrechts University Kiel in the summer term of 2014. It recommends Baltagi's book on econometric analysis of panel data and discusses the advantages of panel data over cross-sectional or time series data alone, such as controlling for individual heterogeneity and avoiding aggregation biases. It also notes some limitations of panel data like data collection problems and selectivity. Finally, it categorizes types of panel data as longitudinal data sets with short time series, cross-section time series with long panels, and large firm data sets with huge panels.

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    © All Rights Reserved
    Descărcați ca PDF, TXT sau citiți online pe Scribd
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    din 14

    Panel Econometrics

    Lecture 1: Introduction

    Prof. Dr. Kai Carstensen


    Christian Albrechts University Kiel

    Summer Term 2014

    Carstensen (CAU Kiel)

    Panel Econometrics

    Summer Term 2014

    1 / 14

    Reading List

    Badi H. Baltagi (2008), Econometric Analysis of Panel Data, Wiley, 4. Edition,


    Introduction.

    Carstensen (CAU Kiel)

    Panel Econometrics

    Summer Term 2014

    2 / 14

    Why panel data? (And not pure cross sections or time series?)

    Controlling for individual heterogeneity


    Using more information, more degrees of freedom
    Modeling dynamics
    Identifying otherwise non-detectable effects
    Avoiding aggregation biases

    Carstensen (CAU Kiel)

    Panel Econometrics

    Summer Term 2014

    3 / 14

    Limitations of panel data

    Data collection problems (coverage, collection costs, interview spacing etc.)


    Measurement errors (is a general survey problem, i.e., applies also to single cross
    sectional surveys)
    Selectivity (self-selectivity, nonresponse, attrition)
    Micro panels: often short time series dimension
    Macro panels: cross-section dependence

    Carstensen (CAU Kiel)

    Panel Econometrics

    Summer Term 2014

    4 / 14

    Types of panel data

    Longitudinal data: short panels


    Cross section time series: long panels
    Firm data sets: huge panels

    Carstensen (CAU Kiel)

    Panel Econometrics

    Summer Term 2014

    5 / 14

    Types of panel data

    Carstensen (CAU Kiel)

    Panel Econometrics

    Summer Term 2014

    6 / 14

    Types of panel data

    Carstensen (CAU Kiel)

    Panel Econometrics

    Summer Term 2014

    7 / 14

    Types of panel data

    Carstensen (CAU Kiel)

    Panel Econometrics

    Summer Term 2014

    8 / 14

    Types of panel data

    Carstensen (CAU Kiel)

    Panel Econometrics

    Summer Term 2014

    9 / 14

    Types of panel data

    Longitudinal data: short panels


    Cross section time series: long panels
    Firm data sets: huge panels

    Carstensen (CAU Kiel)

    Panel Econometrics

    Summer Term 2014

    10 / 14

    Types of panel data

    Carstensen (CAU Kiel)

    Panel Econometrics

    Summer Term 2014

    11 / 14

    Types of panel data

    Longitudinal data: short panels


    Cross section time series: long panels
    Firm data sets: huge panels

    Carstensen (CAU Kiel)

    Panel Econometrics

    Summer Term 2014

    12 / 14

    Types of panel data

    Carstensen (CAU Kiel)

    Panel Econometrics

    Summer Term 2014

    13 / 14

    Types of panel data

    Carstensen (CAU Kiel)

    Panel Econometrics

    Summer Term 2014

    14 / 14

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