The Early Years of Panel Data Econometrics
DUPONT ; PïROTTE
Type de document
COMMUNICATION AVEC ACTES INTERNATIONAL (ACTI)
Langue
anglais
Auteur
DUPONT ; PïROTTE
Résumé / Abstract
This article focuses on the early years of panel data econometrics considering two seminal papers by Mundlak (1961) and Balestra and Nerlove (1966). The issue of latent individual heterogeneity was identified as a central problem. One of the main ambition was to get a clear understanding of how differences in behaviour across individuals and/or through time could and should be modeled. Another main aspect was the assumed inherent dynamic pattern of economic behaviour, which requires the use of specific models and data collection. These articles attempted to built relevant models and statistical methods, mainly based on the distinction between fixed effects (analysis of covariance) and random effects. They brought back identification issue in the context of estimating respectively a production function of sixty-six farms in Israël over the period 1954-1958, and the demand for natural gas in the residential and commercial market of thirty-six U.S. states observed over the period 1957-1962.
Editeur
Duke University Press
