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Dynamic panel data models: a guide to microdata methods and practice
TLDR
In this article, the focus is on panels where a large number of individuals or firms are observed for a small number of time periods, typical of applications with microeconomic data, and the emphasis is on single equation models with autoregressive dynamics and explanatory variables.Abstract:
This paper reviews econometric methods for dynamic panel data models, and presents examples that illustrate the use of these procedures. The focus is on panels where a large number of individuals or firms are observed for a small number of time periods, typical of applications with microeconomic data. The emphasis is on single equation models with autoregressive dynamics and explanatory variables that are not strictly exogenous, and hence on the Generalised Method of Moments estimators that are widely used in this context. Two examples using firm-level panels are discussed in detail: a simple autoregressive model for investment rates; and a basic production function.read more
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Internal capital markets and the partial adjustment of leverage
TL;DR: In this paper, the authors provide the first empirical evidence of a link between deviations from target leverage and ICM activity, based on data that allow them to trace intra-group capital market transactions for property-casualty insurers.
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Does China have an impact on foreign direct investment to Latin America
TL;DR: In this paper, the authors analyze empirically whether the emergence of China as a large recipient of FDI has affected the amount of foreign direct investment received by Latin American countries, focusing on the last few years when FDI boomed worldwide and negotiations for China's WTO membership accelerated.
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The trade depressing and trade diversion effects of antidumping actions: The case of China
TL;DR: The authors empirically investigated the impact of China's antidumping activities on trade by employing the system GMM estimator and found that AD protection has significant trade depressing and trade diversion effects.
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Sustainability of Public Debt and Budget Deficit: Panel cointegration analysis for the European Union Member countries
Silika Prohl,Friedrich Schneider +1 more
TL;DR: In this article, the authors analyzed the sustainability of EU member countries' fiscal policies within the panel cointegration and error-correction frameworks and concluded that the fiscal policy is consistent with the inter-temporal budget constraint, i.e., it is sustainable in the panel of fifteen EU member states over the period from 1970 to 2004.
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Rational habits in gasoline demand
TL;DR: In this article, the authors examine the implications of rational habits on gasoline demand and find that consumers are twice as responsive to tax-driven price changes as to market driven price changes, with this distinction increasing in the strength of the habits.
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