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Panel data analysis

Panel data analysis

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Published by: alaa_h1 on Feb 21, 2010
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04/11/2013

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PU/DSS/OTR
Panel Data Analysis
Fixed & Random Effects
(ver. 3.0)
Oscar Torres-Reyna 
Data Consultant 
otorres@princeton.edu 
http://dss.princeton.edu/training/ 
 
PU/DSS/OTR
Intro
Panel data (also known aslongitudinal or cross-sectional time-series data)is a dataset in which thebehavior of entities areobserved across time.These entities could bestates, companies,individuals, countries, etc.One example of panel data
country year Y X1 X2 X3
120006.07.85.81.3120014.60.67.97.8120029.42.15.41.1220009.11.36.74.1220018.30.96.65.0220020.69.80.47.2320009.10.22.66.4320014.85.93.26.4320029.15.26.92.1
2
 
PU/DSS/OTR
Intro
Panel data allows you to control for variables you cannotobserve or measure like cultural factors (when comparingcountries or states within a country –i.e. Utah vs. NewYork) or difference in business practices acrosscompanies.Panel data also help to control for unobservable variablesthat change over time but not across entities (i.e. nationalpolicies, federal regulations, international agreements, etc.)With panel data you can include variables at different levelsof analysis (i.e. students, schools, districts, states) suitablefor multilevel or hierarchical modeling.
Note: For a comprehensive list of advantages and disadvantages of panel data see Baltagi,
Econometric Analysis of Panel Data 
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