Hi,Is the following code true for the m jones model? data: 2010-2017 for 35 country and 24 industry
I think that in case of more than one country, country factor should be taken into consideration in addition to firm-industry.
Thank you for your contributions.


xtset firm date, yearly
gen dREC = d.REC
gen dREV = d.REV
gen lA = l.A
gen TACC = TA/lA
gen term1 = 1/lA
gen term2 = (dREV - dREC)/ lA
gen term3 = PPEG / lA
tabulate industry, gen(d_dum)
egen ccode = group(country)
gen Jones_1995_TAC3=.
forval y = 2011(1)2017{
forval i = 1(1)35{
display `i'
display `y'
reg TACC term1 term2 term3 d_dum1-d_dum24 if `i'== ccode&`y'== date
predict residd if `i'== ccode&`y'== date
replace Jones_1995_TAC3=residd if `i'== ccode&`y'== date
drop residd
}
}