Template-type: ReDIF-Paper 1.0
Author-Name: Lokshin, Boris
Author-Email: lokshin@merit.unu.edu
Author-Workplace-Name: UNU-MERIT, and Maastricht University
Title: Further results on bias in dynamic unbalanced panel data models with an 
	 application to firm R&D investment 
Abstract: This paper extends the LSDV bias-corrected estimator in [Bun, M., 
	 Carree, M.A. 2005. Bias-corrected estimation in dynamic panel data 
	 models, Journal of Business and Economic Statistics, 23(2): 200-10] to 
	 unbalanced panels and discusses the analytic method of obtaining the 
	 solution. Using a Monte Carlo approach the paper 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 labor productivity in an unbalanced panel of innovating firms.
Classification-JEL: C23 
Keywords: Bias Correction, Unbalanced Panel Data, GMM, Dynamic Models
Series: UNU-MERIT Working Papers
Creation-Date: 2008
Number: 039
File-URL: http://www.merit.unu.edu/publications/wppdf/2008/wp2008-039.pdf
File-Format: application/pdf
File-Size: 275 Kb
Handle: RePEc:unm:unumer:2008039