Further results on bias in dynamic unbalanced panel data models with an application to firm R&D investment

Boris Lokshin

Applied Economics Letters, 2009, vol. 16, issue 12, 1227-1233

Abstract: This article extends the LSDV bias-corrected estimator in (Bun and Carree, 2005) to unbalanced panels and discusses the analytic method of obtaining the solution. Using a Monte Carlo approach the article compares the performance of this estimator with three other available techniques for dynamic panel data models. Simulation reveals that LSDV-bc estimator is a good choice except for samples with small T, where it may be unpractical. The methodology is applied to examine the impact of internal and external R&D on labour productivity in an unbalanced panel of innovating firms.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:16:y:2009:i:12:p:1227-1233

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DOI: 10.1080/13504850701367270

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