Essays in Panel Data Econometrics [Paperback]

This volume collects seven classic essays on panel data econometrics, and a cogent essay on the history of the subject.Panel data involve many individuals observed over time or in space or both. Methods for the analysis of such data belong to a branch of econometrics, microeconometrics, the importance of which has been accorded increasing recognition as such data have become more available and methods of analysis more sophisticated. The essays here span the period 1966 2000, which was a period of rapid development in panel data econometrics and in which Marc Nerlove was a leading protagonist in the unfolding story.Panel data involve many individuals observed over time or in space or both. Methods for the analysis of such data belong to a branch of econometrics, microeconometrics, the importance of which has been accorded increasing recognition as such data have become more available and methods of analysis more sophisticated. The essays here span the period 1966 2000, which was a period of rapid development in panel data econometrics and in which Marc Nerlove was a leading protagonist in the unfolding story.This volume collects seven of Nerlove's previously published essays on panel data econometrics written over the past thirty-five years, with a new essay on the history of the subject, which began with George Biddell Airey's monograph in 1861. Since his 1966 Econometrica paper with Pietro Balestra, panel data and methods of econometric analysis have become important in the discipline. The principal factors in the research environment affecting the future course of panel data econometrics are the growth in the computational power available to the individual researcher at his desktop and the ready availability of data sets via the Internet. The best way to formulate statistical models for inference is motivated and shaped by substantive problems and our understanding of the processes generating the data at hand to resolve them. The essays illustrate the substantl#ï