Re: [R] Panel data

From: Stefan Grosse <stefan.grosse_at_uni-erfurt.de>
Date: Thu, 14 Jun 2007 08:27:46 +0200

Panel data is that you have e.g. several subjects (=individuals,firms,households) being tracked over a certain time (meaning there are repeated observations). One could roughly say that it is a collection of (quite similiar) time series. This makes the analysis better than pooling the whole set but it needs certain econometric tools.

An example would be estimating wage elasticities.

Time series analysis usually just involves one subject (interest rates, share prices etc.) over some time.

Standard books on panel data analysis are also Baltagi: econometric analysis of panel data and Wooldridge: econometric analysis of cross sectional and panel data. Both are not introductionary texts since you do not know the difference between time series and panel data maybe you should start with an introductionary econometrics book like Wooldridge introductory econometrics or Verbeek: modern econometrics.

Stefan

on Thursday 14 June 2007 07:33:05 Megh Dal wrote: MD > Then what is the difference between panel data and time series data? You  said panel data is data on "same subject being tracked over time". But time  series data also do the same. Please correct me if I am wrong. MD >



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