Panel Data Lecture Flashcards
What are the types of data? (4)
What are the two types of panel data?
What is exogeneity?
Where the value for x isn’t explained by any values within the system
What is endogeneity?
Where the value for x isn’t explained by any values within the system
What is the Instrumental Variable approach?
How do we apply the IV estimator?
What are the properties of z?
When is the estimator consistent?
The estimator is consistent if z is correlated with x and uncorrelated with the error term.
What is the formula for BIV?
What is the order condition for the IV estimator?
Why is the 2SLS the most efficient estimator for IV when you have more than one variable?
How do we write the vector of exogenous variables?
What are the 2 steps of 2SLS?
What is the formula for a Panel Data Model?
How do we represent the Linear Unobserved Effects on Panel Data Models?