The Formulation and Estimation of Random Effects Panel Data Models of Trade
Cecília Hornok and
No 2012_1, CEU Working Papers from Department of Economics, Central European University
The paper introduces for the most frequently used three- dimensional panel data sets several random effects model specifications. It derives appropriate estimation methods for the balanced and unbalanced cases and deals with some extensions as well. An application is also presented where the bilateral trade of 20 EU countries is analysed for the period 2001-2006. The differences between the fixed and random effects specifications are highlighted through this empirical exercise.
Date: 2012-05-05, Revised 2013-03-25
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Working Paper: The formulation and estimation of random effects panel data models of trade (2012)
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