Panel data consists of observations on multiple subjects collected repeatedly over time. Examples of panel data include data collected on individuals, households, firms, municipalities, states, or countries over the same time period. Panel data analysis can be performed by fitting panel regression models that account for both cross-section effects and time effects and give more reliable parameter estimates compared to linear regression models.
There are two types of panel data:
Common panel regression models include:
Common estimation methods for panel data regression models include:
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