Abstract
In the previous chapter we considered models that can be used when the economic structure generating the data are thought to vary from observation to observation. Such situations arise naturally in the context of time series data, where structural changes can occur over time, but random coefficient models have also been found useful when using cross-sectional data and individual decision making units are thought to respond differently to changes in independent variables. It is not surprising then, that with the growing availability of time-series of cross-section data, specialized models have developed that allow for possible changes in the economic structure generating the data.
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© 1984 Springer Science+Business Media New York
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Fomby, T.B., Johnson, S.R., Hill, R.C. (1984). Models That Combine Time-Series and Cross-Section Data. In: Advanced Econometric Methods. Springer, New York, NY. https://doi.org/10.1007/978-1-4419-8746-4_15
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DOI: https://doi.org/10.1007/978-1-4419-8746-4_15
Publisher Name: Springer, New York, NY
Print ISBN: 978-0-387-96868-1
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