Dear all,
I have a panel with 345 observations and six variables. My cross-sectional variable is Panel_bland (15 groups) and my time-series variable is Panel_year (23 years).
I xtreg a correlated random effect model (Mundlak). I am analysing the results and saw that no R-squared has been produced.
I know Stata must have a good reason for not displaying it as R-squared might not be a good measure.
What might be a good alternative to assess how much of the variation can be explained by the chosen variables?
Thank you in advance.
Caroline