Hi I am wondering that is the difference between inserting year fixed effect and year dummy in a regression? Are they the same thing? How about the purpose of clustering?
If I want to test the effect of a yearly macro-economic proxy in a regression like this: reghdfe depvar MacroEcon OtherControl#MacroEcon OtherControl, absort() cluster()
I cannot insert year dummy or year fixed effect, right? But I can still control for industry and firm fixed effects and cluster at firm and/ or industry level?
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