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Panel Data Static Model: Testing of Hypotheses

In: Econometrics in Theory and Practice

Author

Listed:
  • Panchanan Das

    (University of Calcutta, Department of Economics)

Abstract

Panel data are used to estimate the unrestricted model, fully restricted model, and error component model. A fixed-effects model considers how heterogeneity from entities affects individual intercepts, while a random-effects model hypothesises that error variance structures are affected by entities. Disturbances in a random-effects model are assumed to be randomly distributed across entities. The key difference between fixed- and random- effects models is that individual effect in a random-effects model should not be correlated with any regressor. A formal test is needed to be carried out to find out which model would be appropriate for a given dataset. This chapter deals with testing of hypotheses to examine these issues.

Suggested Citation

  • Panchanan Das, 2026. "Panel Data Static Model: Testing of Hypotheses," Springer Texts in Business and Economics, in: Econometrics in Theory and Practice, edition 0, chapter 16, pages 605-621, Springer.
    • Handle: RePEc:spr:sptchp:978-981-95-7226-7_16
    DOI: 10.1007/978-981-95-7226-7_16
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