Ekonometria ENG

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Time-varying covariates
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variables that change for the same entity over time.
Time-invariant characteristics
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Attributes that do not change over time within entities
Individual Specific Effects
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unique characteristics associated with each cross-sectional unit in the dataset.
Observable factors
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measurable variables that influence the dependent variable
Unobservable factors
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hidden variables that affect the dependent variable
Fixed effects
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Fixed effects capture unobserved variables that are constant over time but vary between entities.
Random Effects
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effects that assume random variation between entities in intercepts and slopes.
Between Estimator
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An estimator that uses the variation between individuals, ignoring the within-individual changes.
Within Estimator
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Another term for fixed effects estimators; refers to estimating relationships using only within-individual variation.
Instrumental Variables
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Variables that help control for endogeneity by being correlated with the endogenous explanatory variable but not with the error term.

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