I have a question about the way I should treat unit root in unbalanced panel data analysis and estimating a GMM model
Preliminary:
I have run the fisher test on my key variable of interest x
Code:
xtfisher x, lag(1)
Hence I transformed my data into d.x. Once transformed variable passes the fisher test and I can reject the H_o hypothesis
Code:
xtfisher D.x, lag(1)
The problem
In order to do some theory testing, I am first running a fixed-effects model and then I am using a difference GMM to deal with some endogeneity concerns. Both models should produce comparable results in order to allow conclusion
I have estimated the FE model like this
Code:
xtreg y D.l.x l.c i.Year, fe robust
The Question
my question is the following: how should I enter my variable in the differenced GMM model? should I enter it as it is because then all variables are differenced anyway?
In other words: should I estimate this model
Code:
xtabond2 y l.y l.x l.c yeardum*, gmm(y x c, lag(2 5) collapse) iv(yeardum*) noleveleq small noconstant robust
Code:
xtabond2 y l.y D.l.x l.c yeardum*, gmm(y D.x c, lag(2 5) collapse) iv(yeardum*) noleveleq small noconstant robust
thanks a lot in advance for your help
Best regards
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