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• W1794161424 abstract "This paper develops new estimation and inference procedures for dynamic panel data models with fixed effects and incidental trends. A simple consistent GMM estimation method is proposed that avoids the weak moment condition problem that is known to affect conventional GMM estimation when the autoregressive coefficient (rho) is near unity. In both panel and time series cases, the estimator has standard Gaussian asymptotics for all values of rho in (-1, 1] irrespective of how the composite cross section and time series sample sizes pass to infinity. Simulations reveal that the estimator has little bias even in very small samples. The approach is applied to panel unit root testing." @default.
• W1794161424 created "2016-06-24" @default.
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• W1794161424 date "2007-01-01" @default.
• W1794161424 modified "2023-09-28" @default.
• W1794161424 title "GMM Estimation for Dynamic Panels with Fixed Effects and Strong Instruments at Unity" @default.
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