Dear all,
I am working with survey panel data covering 32 years and very large amount of individuals taking part in each wave. My depended variable is life satisfaction (measured on scale between 0 and 10). The dependent variables in my model are the lagged income variable, marital status, number of children in the household, sex, age and so on.
I am currently using FE model since I want to control for the unobserved time-invariant characteristics. My main goal is to find if there is self-detection into marriage due to personal characteristics or is marriage making people more happy in general.
However, I am a bit confused at this point if my model is dynamic or not. From what I know, the dependent variable (life satisfaction) needs to be dependent on its own past value in order to consider the model dynamic. Does happiness today depends on how I felt yesterday - doesn't seem very likely. Can you please advise what should be the best approach to apply ? Thank you !
Kind regards,
Gabriella
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