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Vol. 59, No. 2, pp. 112-125 (2008)

“Dynamic Panel Data Models -A Survey-”
Kazuhiko Hayakawa (Graduate School of Social Sciences, Hiroshima University)

Recently, using panel data in empirical studies has become a common strategy, and it is expected that panel data would be used more often in the future. Although there are a number of panel data models, this survey focuses on the recent development of dynamic panel data models. Especially, we focus on the within-groups, instrumental variable and the generalized method of moments estimators since these estimators are commonly used in empirical analysis.