GMM Estimation of Empirical Growth Models.
This Paper highlights a problem in using the first-differenced GMM panel data estimator to estimate cross-country growth regressions. When the time series are persistent, the first-differenced GMM estimator can be poorly behaved, since lagged levels of the series provide only weak instruments for su...
| Автори: | , , |
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| Формат: | Working paper |
| Мова: | English |
| Опубліковано: |
CEPR
2001
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