Economics, Econometrics and Finance
8 years ago

New study reveals key tests for accurate panel data analysis.

The Review of Economic Studies
Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations
Manuel Arellano, Stephen Bond

Paper Summary

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The article tests the accuracy of panel data models using simulations and real-world employment data. The researchers found that certain tests can help determine if the model is correctly specified, which is crucial for accurate results in economic studies.