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Analysis of Panel Databy: Cheng Hsiao
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AbstractPanel data models have become increasingly popular among applied researchers due to their heightened capacity for capturing the complexity of human behavior, as compared to cross-sectional or time series data models. This second edition represents a substantial revision of the highly successful first edition (1986). Recent advances in panel data research are presented in an accessible manner and are carefully integrated with the older material. The thorough discussion of theory and the judicious use of empirical examples make this book useful to graduate students and advanced researchers in economics, business, sociology and political science. This book reviews the basic econometric methods that have been used to analyze panel data--data collected by observing a number of individuals over time. In analyzing this data, difficulties can arise due to unobserved individuals or time characteristics. The focus of the book is twofold: correcting for these difficulties, and providing methods for improvement of the efficiency of the estimates. The author draws together work on panel data from a number of different perspectives, including the econometric literature on specification analysis, the time series literature on dynamic models, and discrete choice literature.
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