Errors in variables in panel data
Zvi Griliches,Jerry A. Hausman +1 more
TLDR
It is shown how a variety of errors-in-variables models may be identifiable and estimable in panel data without the use of external instruments and applied to the estimation of ‘labor demand’ relationships, also known as the ‘short-run increasing returns to scale’ puzzle.About:
This article is published in Journal of Econometrics.The article was published on 1986-02-01 and is currently open access. It has received 1698 citations till now. The article focuses on the topics: Panel data & Errors-in-variables models.read more
Citations
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Book
Econometric Analysis of Cross Section and Panel Data
TL;DR: This is the essential companion to Jeffrey Wooldridge's widely-used graduate text Econometric Analysis of Cross Section and Panel Data (MIT Press, 2001).
Journal ArticleDOI
Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations.
Manuel Arellano,Stephen Bond +1 more
TL;DR: In this article, the generalized method of moments (GMM) estimator optimally exploits all the linear moment restrictions that follow from the assumption of no serial correlation in the errors, in an equation which contains individual effects, lagged dependent variables and no strictly exogenous variables.
Posted Content
Financial Intermediation and Growth: Causality and Causes
TL;DR: In this article, the authors evaluate whether the level of development of financial intermediaries exerts a casual influence on economic growth, and they find that financial intermediary development has a large causal impact on growth.
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Financial intermediation and growth: Causality and causes ☆
TL;DR: In this article, the authors evaluate whether the level of development of financial intermediaries exerts a casual influence on economic growth and whether cross-country differences in legal and accounting systems (such as creditor rights, contract enforcement, and accounting standards) explain differences in financial development.
Posted Content
Finance and the Sources of Growth
TL;DR: Beck, Levine, and Loayza as mentioned in this paper evaluate whether the level of development in the banking sector exerts a causal impact on economic growth and its sources- total factor productivity growth, physical capital accumulation, and private saving.
References
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Journal ArticleDOI
Specification Tests in Econometrics
TL;DR: In this article, the null hypothesis of no misspecification was used to show that an asymptotically efficient estimator must have zero covariance with its difference from a consistent but asymptonically inefficient estimator, and specification tests for a number of model specifications in econometrics.
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Large sample properties of generalized method of moments estimators
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The estimation of economic relationships using instrumental variables
TL;DR: In this article, the asymptotic error variance matrix for the coefficients of one of the relationships is obtained in the case in which these relationships are estimated using instrumental variables, and the problem of choice that arises when there are more instrumental variables available than the minimum number required to enable the method to be used is discussed.
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Panel data and unobservable individual effects
TL;DR: In this article, the authors derived a test for the presence of this effect and for the over-identifying restriction they use; necessary and sufficient conditions for identification of all the parameters in the model; and the asymptotically efficient instrumental variables estimator and conditions under which it differs from the within-groups estimator.
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Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations.
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