Paneldatenökonometrie
Paneldatenökonometrie, also known as panel data econometrics, is a statistical method used to analyze data that follows a panel structure. This means the data consists of observations on multiple entities (such as individuals, firms, or countries) over multiple time periods. The core advantage of panel data is that it allows researchers to control for unobserved heterogeneity that varies across entities but is constant over time, as well as unobserved factors that vary over time but are constant across entities.
There are two primary types of panel data models: fixed effects models and random effects models. Fixed
The choice between fixed and random effects models is crucial and often guided by statistical tests like