TSP
θi
= 1
—
= 1
—
LIMDEP
STATA
Although the three estimators are asymptotically equivalent, they show different small-sample
properties.21
The three software packages have been used to estimate 5 possible model specifications adopting
both fixed and random effects. The execution times (on a Risk6000 990 platform) and program sizes are
compared in the following table:
|
Package |
Execution Time (sec.) |
Lines Code |
|
TSP |
5 |
30 |
|
LIMDEP |
12 |
28 |
|
STATA |
38 |
46 |
On the issue concerning the numerical differences of the random effects estimates, we have analyzed
the comparative efficiency of the small-sample properties of the three estimators. This task has been
accomplished by running a parametric bootstrap procedure starting from the OLS estimation residuals in
one selected specification22. The parametric bootstrap used in this exercise is not a bootstrap in the usual
sense of the word, it consists in the Monte Carlo exercise described in the following seven steps:
21 On this subject see Swamy and Arora (1972).
22 See Bellmann, Breitung and Wagner (1989).
12
More intriguing information
1. The name is absent2. GROWTH, UNEMPLOYMENT AND THE WAGE SETTING PROCESS.
3. Can genetic algorithms explain experimental anomalies? An application to common property resources
4. Tissue Tracking Imaging for Identifying the Origin of Idiopathic Ventricular Arrhythmias: A New Role of Cardiac Ultrasound in Electrophysiology
5. Life is an Adventure! An agent-based reconciliation of narrative and scientific worldviews
6. How much do Educational Outcomes Matter in OECD Countries?
7. The name is absent
8. CHANGING PRICES, CHANGING CIGARETTE CONSUMPTION
9. Sector Switching: An Unexplored Dimension of Firm Dynamics in Developing Countries
10. Visual Artists Between Cultural Demand and Economic Subsistence. Empirical Findings From Berlin.