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Models That Combine Time-Series and Cross-Section Data

  • Thomas B. Fomby
  • Stanley R. Johnson
  • R. Carter Hill

Abstract

In the previous chapter we considered models that can be used when the economic structure generating the data are thought to vary from observation to observation. Such situations arise naturally in the context of time series data, where structural changes can occur over time, but random coefficient models have also been found useful when using cross-sectional data and individual decision making units are thought to respond differently to changes in independent variables. It is not surprising then, that with the growing availability of time-series of cross-section data, specialized models have developed that allow for possible changes in the economic structure generating the data.

Keywords

Unbiased Estimator International Economic Review Random Coefficient Model Error Component Model Idempotent Matrix 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media New York 1984

Authors and Affiliations

  • Thomas B. Fomby
    • 1
  • Stanley R. Johnson
    • 2
  • R. Carter Hill
    • 3
  1. 1.Department of EconomicsSouthern Methodist UniversityDallasUSA
  2. 2.The Center for Agricultural and Rural DevelopmentIowa State UniversityAmesUSA
  3. 3.Department of EconomicsLouisiana State UniversityBaton RougeUSA

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