I would like to include an interaction term between categorical and continuous variables in my model as explanatory variables.
(The categorical variable has 20 categories)
The following is what I want to estimate:
Code:
xtreg y ib(first).categorical#c.continuous, fe
I also tried full factorial interaction and got estimation results without base category (as intended).
Code:
xtreg y ib(first).categorical##c.continuous, fe
My question is, is it still okay to use my first approach? (model with no base category)
Or is it better to use full factorial interaction terms even if I get results with little significance?
Any comment will be greatly appreciated.
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