These panel data studies
Posted: Thu Feb 06, 2025 9:46 am
These models capture the dynamic interrelationship among a set of variables, permitting in the case of the latter the underlying variables to have a long-run common stochastic trend. They are suited for modelling a small number of variables, with the focus on the temporal rather than spatio-temporal dimension, the latter allowing to capture interlinkages across variables of a number of individuals, be it countries, regions etc.
Recently, studies using panel data analysis have hong kong rcs data emerged in the literature. However, they also use a relatively small number of observations across time. permit country heterogeneity only in a limited way without controlling for global common shocks or spatial dependence, despite both of these featuring prominently in the recent panel data econometrics literature.
Our work adopts a global modelling approach that can address all these issues.
For reliable estimation of the associated large dimensional model, we required a sufficient number of time-series observations, a minimum of at least around 80 observations, across countries that cover a major part of the world economy. A precise number in the latter case is not appropriate as this also depends on the relative sizes of the countries. If the countries in the sample are all of the small open economy type, usually a larger number of these is required for the reliable application of the methodology.
Recently, studies using panel data analysis have hong kong rcs data emerged in the literature. However, they also use a relatively small number of observations across time. permit country heterogeneity only in a limited way without controlling for global common shocks or spatial dependence, despite both of these featuring prominently in the recent panel data econometrics literature.
Our work adopts a global modelling approach that can address all these issues.
For reliable estimation of the associated large dimensional model, we required a sufficient number of time-series observations, a minimum of at least around 80 observations, across countries that cover a major part of the world economy. A precise number in the latter case is not appropriate as this also depends on the relative sizes of the countries. If the countries in the sample are all of the small open economy type, usually a larger number of these is required for the reliable application of the methodology.