We develop a generalized dynamic factor model for panel data with the goal of estimating an unobserved performance index. While similar models have been developed in the literature of dynamic factor analysis, our contribution is threefold. First, contrary to simple dynamic factor analysis where multiple attributes of the same cross sectional unit are measured at each time period, our model also...

This paper introduces a dynamic panel data model in which the intercepts and the coefficients on the lagged endogenous variables are specific to the cross section units, while the coefficients on the exogenous variables are assumed to be normally distributed across the cross section. Thus the model includes mixture of fixed coefficients and random coefficients, which I call the “MFR” model. The...

This paper proposes a method for estimating a censored panel data model with a lagged latent dependent variable and individual-specific fixed effects. The main insight is to trim observations in such a way that a certain symmetry, which was destroyed by censoring, is restored. Based on the restored symmetry, orthogonality conditions are constructed and GMM estimation is implemented. Valid asymp...

the main objective of this paper is to investigate the effects of monetary regime (countries with inflation targeting monetary policy versus countries with exchange rate anchor) on the extent of exchange rate pass-through over the period of 1999-2010. to achieve this objective, the econometric model has been estimated by dynamic panel data approach and arrelano- bond (ab) method. the empirical ...

The objective of this study is to investigate the factors affecting firm competitiveness in an emerging market—Turkey. In the paper, competitiveness is proxied by a firm’s financial performance. The empirical analysis is based on firms listed on Borsa Istanbul and covers the period between 2005 and 2014. Results from a firm-level panel data model indicate that return on assets is positively rel...

Currently, technological development is driven by the search for solutions to prevent climate change and environmental degradation, increase energy efficiency, meet societal needs in relation avoiding conflict while navigating implementation of current future needs. Many come from rapid bioeconomy. The aim this article determine impact bioeconomy variables on economic growth 27 EU countries. re...