Question
Answer some questions about how an economist would analyze panel data. For 10 points each:
[10e] The core of panel data is that subjects remain the same across different values of this variable. More generally, longitudinal data is distinct because it has different values for this variable, which names a kind of “series.”
ANSWER: time [or t]
[10m] Since a panel looks at the same subjects across time, an economist will likely try to eliminate this unobserved component of the model, which reflects the unique traits of each individual data point.
ANSWER: fixed effects [accept within estimator; prompt on alpha-i]
[10h] This estimator is a common way to remove fixed effects in panel data. It subtracts the model for one time period from the model of another time period.
ANSWER: first-differences estimator [accept FD estimator]
<Benjamin McAvoy-Bickford, Social Science>
Summary
| 2024 Penn Bowl Harvard | 10/26/2024 | Y | 4 | 10.00 | 100% | 0% | 0% |