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Time‐series–cross‐section Data

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  • Nathaniel Beck

Abstract

This article treats the analysis of ‘time‐series–cross‐section’ (TSCS) data. Such data consists of repeated observations on a series of fixed units. Examples of such data are annual observations on the political economy of OECD nations in the post‐war era. TSCS data is distinguished from ‘panel’ data, in that asymptotics are in the number of repeated observations, not the number of units. The article begins by treating the complications of TSCS data in an ‘old‐fashioned’ manner, that is, as a nuisance which causes estimation difficulties. It claims that TSCS data should be analyzed via ordinary least squares with ‘panel correct standard errors’ rather than generalized least squares methods. Dynamics should be modeled via a lagged dependent variable or, if appropriate, a single equation error correction model. The article then treats more modern issues, in particular, the modeling of spatial effects and heterogeneity. It also claims that heterogeneity should be assessed with ‘panel cross‐validation’ as well as more standard tests. The article concludes with a discussion of estimation in the presence of a binary dependent variable.

Suggested Citation

  • Nathaniel Beck, 2001. "Time‐series–cross‐section Data," Statistica Neerlandica, Netherlands Society for Statistics and Operations Research, vol. 55(2), pages 111-133, July.
  • Handle: RePEc:bla:stanee:v:55:y:2001:i:2:p:111-133
    DOI: 10.1111/1467-9574.00161
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    Cited by:

    1. Issal Haj-Salem & Salma Damak Ayadi & Khaled Hussainey, 2020. "The joint effect of corporate risk disclosure and corporate governance on firm value," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 17(2), pages 123-140, September.
    2. James W. Stoutenborough & Matthew Beverlin, 2008. "Encouraging Pollution‐Free Energy: The Diffusion of State Net Metering Policies," Social Science Quarterly, Southwestern Social Science Association, vol. 89(5), pages 1230-1251, December.
    3. Christina Poetzsch, 2017. "Technology transfer on a two-way street: R&D spillovers through intermediate input usage and supply," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 153(4), pages 735-751, November.
    4. Anna Matas Prat & Adriana Karina Ruíz Marín & Josep Lluís Raymond Bara, 2016. "How do road infrastructure investments affect the regional economy? Evidence from Spain," Working Papers wpdea1610, Department of Applied Economics at Universitat Autonoma of Barcelona.
    5. Boussalis, Constantine & Nelson, Hal T. & Swaminathan, Siddharth, 2012. "Towards comprehensive malaria planning: The effect of government capacity, health policy, and land use variables on malaria incidence in India," Social Science & Medicine, Elsevier, vol. 75(7), pages 1213-1221.
    6. John Conybeare & Dong‐Hun Kim, 2010. "Barbarians at the Gates: State Control of Global Mergers and Acquisitions," The World Economy, Wiley Blackwell, vol. 33(9), pages 1175-1199, September.
    7. Dong‐Hun Kim, 2010. "Making or Breaking a Deal: the Impact of Electoral Systems on Mergers & Acquisitions," Kyklos, Wiley Blackwell, vol. 63(3), pages 432-449, August.
    8. Raj M. Desai & Anders Olofsgård & Tarik M. Yousef, 2009. "The Logic Of Authoritarian Bargains," Economics and Politics, Wiley Blackwell, vol. 21(1), pages 93-125, March.

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