Random Coefficient Models for Time-Series—Cross-Section Data: Monte Carlo Experiments
Random Coefficient Models for Time-Series—Cross-Section Data: Monte Carlo Experiments
This article considers random coefficient models (RCMs) for time-series—cross-section data. These models allow for unit to unit variation in the model parameters. The heart of the article compares the finite sample properties of the fully pooled estimator, the unit by unit (unpooled) estimator, and the (maximum likelihood) RCM estimator. The …