Further results on bias in dynamic unbalanced panel data models with an application to firm R&D investment
AbstractThis article extends the LSDV bias-corrected estimator in (Bun and Carree, 2005) to unbalanced panels and discusses the analytic method of obtaining the solution. Using a Monte Carlo approach the article compares the performance of this estimator with three other available techniques for dynamic panel data models. Simulation reveals that LSDV-bc estimator is a good choice except for samples with small T, where it may be unpractical. The methodology is applied to examine the impact of internal and external R&D on labour productivity in an unbalanced panel of innovating firms.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 16 (2009)
Issue (Month): 12 ()
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Other versions of this item:
- Lokshin, Boris, 2008. "Further results on bias in dynamic unbalanced panel data models with an application to firm R&D investment," MERIT Working Papers 039, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
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- Fabrice Murtin & Romain Wacziarg, 2011.
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- Murtin, Fabrice & Wacziarg, Romain, 2011. "The Democratic Transition," CEPR Discussion Papers, C.E.P.R. Discussion Papers 8599, C.E.P.R. Discussion Papers.
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