Transcription of GMM ESTIMATION WITH PERSISTENT PANEL …
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GMM ESTIMATION WITH PERSISTENT PANEL …
Downloaded By: [University College London] At: 16:01 25 June 2007 ECONOMETRIC REVIEWS, 19(3), 32 1-340 (2000) GMM ESTIMATION WITH PERSISTENT PANEL DATA: AN APPLICATION TO PRODUCTION FUNCTIONS Richard blundell University College London and Institute for Fiscal Studies Stephen Bond Nuffield College, Oxford and Institute for Fiscal Studies Key Words and Phrases: PANEL data; GMM; production functions JEL classification: C23, D24 ABSTRACT This paper considers the ESTIMATION of Cobb-Douglas production functions using PANEL data covering a large sample of companies observed for a small number of time periods. GMM estimators have been found to produce large finite-sample biases when using the standard first-differenced estimator.
Downloaded By: [University College London] At: 16:01 25 June 2007 322 BLUNDELL AND BOND ods. As detailed in the recent paper by Griliches and Mairesse (1998), simple OLS regressions yield plausible parameter estimates, in line with evidence from factor
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Estimation, Likelihood estimation of mean reverting, Likelihood estimation of mean reverting processes, SEMESTER- I Sl. No. Department, Production, Current and future development, PLANNING OF PHARMACEUTICAL FACTORIES, Section B, Computer Engineering, SECTION B) COMPUTER ENGINEERING, New Syllabus for Biotechnology subject for, Models for Business and Operations, Models for Business and Operations Management