. what are Ɵme invariant variables what are Ɵme-variant variables

INSTRUCTIONS TO CANDIDATES

ANSWER ALL QUESTIONS

1.1. How many observaƟons are there in the dataset?

Answer:

1.2. Determine how many different counƟes there are in the dataset.

Answer:

1.3. Determine how many years there are in the dataset.

Answer:

1.4 Is the panel balanced or unbalanced? Why?

Answer:

1.5. What are Ɵme invariant variables? What are Ɵme-variant variables?

Answer:

1.6. Describes the variables according to their mean and their variability (compare the within, between, and overall variability)

Answer:

(2) EsƟmate the equaƟon by pooled OLS and report the results.

(2.1) What are the staƟsƟcal significant variables? (at the 10% significant level)

Answer:

(2.2) What are the esƟmated coefficient of lprbarr (β1) and lpolpc (β5 ¿). If they are staƟsƟcally significant, interpret the results.

Answer:

(3) Now esƟmate the equaƟon using fixed effects. (3.1) What are the staƟsƟcal significant variables? (at the 10% significant level)

Answer:

(3.2) What are the esƟmated coefficient of lprbarr (β1) and lpolpc (β5 ¿). If they are staƟsƟcally significant, interpret the results.

Answer:

(4) Now esƟmate the equaƟon using random effects. What is the RE esƟmate of β5 and of β1. (4.1) What are the staƟsƟcal significant variables? (at the 10% significant level)

Answer:

(4.2) What are the esƟmated coefficient of lprbarr (β1) and lpolpc (β5 ¿). If they are staƟsƟcally significant, interpret the results.

Answer:

(5) AŌer providing the results of the Breush-Pagan Test and the Hausman test, idenƟfy the best model to describe our data. Explain.

Answer: 

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