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ECONOMETRIC ANALYSIS USING PANEL DATA - …
ECONOMETRIC ANALYSIS USING PANEL data Ranjit Kumar Paul , Library Avenue, New Delhi- 110012 Introduction Different types of data are generally available for empirical ANALYSIS , namely, time series, cross section, and PANEL . A data set containing observations on a single phenomenon observed over multiple time periods is called time series ( , GDP for several quarters or years). In time series data , both the values and the ordering of the data points have meaning. In cross-section data , values of one or more variables are collected for several sample units, or entities, at the same point in time ( , crime rates for 50 states in the United States for a given year).
Econometric Analysis Using Panel Data employment and earnings can be better studied if we include successive waves of minimum wage increases in the federal and/or state minimum wages.
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