A framework for estimating dynamic, unobserved effects panel data models with possible feedback to future explanatory variables
نویسنده
چکیده
I show how to construct the likelihood function for the conditional maximum likelihood estimator in dynamic, unobserved effects models where not all conditioning variables are strictly exogenous. The method for handling the initial conditions problem appears to be novel, and offers a flexible, relatively simple alternative to existing methods. 2000 Elsevier Science S.A. All rights reserved.
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