Econometric prognosis procedure for panel data

Abstract

"Repeated surveys of several individuals at regular points of time supply a rich hoard of data, so-called panel data. The two-dimensional structure of panel data, in which for a certain group of cross-sectional units (these can be persons, households or establishments) interesting variables are gathered at several points of time, allows the use of more extensive and realistic econometric specifications than would be the case if cross-sectional or time-series data alone were used (see, e.g., [17]). The analysis of panel data makes it possible, among other things, to check for unobserved differences over time between the individual cross-sectional units within the model. This applies both to systematic and to unsystematic forms of such an individual-specific heterogeneity. Well-known examples of German panel date are the Socioeconomic Panel (SOEP), the National Educational Panel Study (NEPS), or the IAB Establishment Panel. Further examples of an economic one (the GfK-Panel or consumer panel) can be found in Chapter 19 of this book." (Author's abstract, IAB-Doku)

Cite article

Aßmann, C., Rässler, S. & Wolf, K. (2012): Ökonometrische Prognoseverfahren für Paneldaten. In: P. Mertens & S. Rässler (Hrsg.) (2012): Prognoserechnung, p. 153-166.