EYS-2022

Panel Veri Analizi-II

Şaban Nazlıoğlu (Pamukkale Üniversitesi)

Çağın Karul (Pamukkale Üniversitesi)

 

Yazılım: 

Eviews 12 ve üzeri.

GAUSS 22 ve üzeri

 

Önemli Notlar: 

Şaban Nazlıoğlu tarafından GAUSS için hazırlanmış olan ve Aptech tarafından tüm kullanıcılarının paylaşımına açılmış olan TSPDlib (Econometric Package for Time Series and Panel Data Methods https://github.com/aptech/tspdlib/ ) kütüphanesi EYS-2022 katılımcılarına tanıtılacak ve kütüphanenin pratik kullanımları gösterilecektir. 

 

Hem TSPDlib hem de diğer GAUSS uygulamaları için katılımcıların GAUSS 22 programına sahip olmaları tavsiye edilir. Çünkü, daha önceki sürümlerde bazı fonksiyonlar olmadığı için yazılan kodların çalışmaması problemi ile karşılaşılmaktadır.

 

Birim Kök/Durağanlık Testleri

Panel Birim Kök Testleri

LLC

Levin,  A.,  Lin,  C.  F.  and  Chu,  C.  S.  J.  (2002)  Unit root   test   in   panel   data:   asymptotic   and   finite sample   properties,   Journal   of   Econometrics,   108, 1–24.

 

IPS

Im, K. S., Pesaran, M. H. and Shin, Y. (2003) Testing for unit   roots   in   heterogeneous   panels,   Journal   of Econometrics, 115, 53–74

 

MW

Maddala, G. S. and Wu, S. (1999) A comparative study of unit root tests with panel data and a new simple test, Oxford  Bulletin  of  Economics  and  Statistics,  special issue, 631–52.

 

Choi

Choi,   I.   (2001)   Unit   root   tests   for   panel   data, Journal   of   International   Money   and   Finance,   20, 249–72.

 

Hadri

Hadri, K. (2000), Testing for Unit Roots in Heterogeneous Panel Data, Econometrics Journal, 3, 148-161.

 

PANIC

Bai, J. and Ng, S. (2004) A PANIC attack on unit roots and cointegration, Econometrica, 72, 1127–78.

 

Westerlund, J., & Larsson, R. (2009). A note on the pooling of individual PANIC unit root tests. Econometric Theory, 25(6), 1851-1868.

 

Bai, J., & Ng, S. (2010). Panel unit root tests with cross-section dependence: a further investigation. Econometric Theory, 26(4), 1088-1114.

 

Reese, S., & Westerlund, J. (2016). PANICCA: Panic on CrossSection Averages. Journal of Applied Econometrics, 31(6), 961-981.

 

Bai, J., & Ng, S. (2002). Determining the number of factors in approximate factor models. Econometrica, 70(1), 191-221.

 

CADF & CIPS

Pesaran, M.H. (2007) A simple unit root test in the presence of cross-section dependence, Journal of Applied Econometrics, 22 (2), 265-312.

 

Panel Durağanlık Testleri

Hadri

Hadri, K. (2000), Testing for Unit Roots in Heterogeneous Panel Data, Econometrics Journal, 3, 148-161.

 

YW

Yin, Y. and S. Wu (2001),  “Stationarity Tests in Heterogeneous Panels,” in Badi H. Baltagi, Thomas B. Fomby, R. Carter Hill (ed.) Nonstationary Panels, Panel Cointegration, and Dynamic Panels (Advances in Econometrics, Volume 15) Emerald Group Publishing Limited, pp.275 – 296.

 

PANIC

Bai, J., and S. Ng (2005),  “A New Look at Panel Testing of Stationarity and the PPP Hypothesis,” In: Andrews, D.W.K., Stock, J.H. (Eds.), Identification and Inference for Econometric Models. Essays in Honor of Thomas Rothenberg. Cambridge University Press, Cambridge.

 

HK

Hadri, K., Kurozumi, E., (2012) A simple panel stationarity test in the presence of serial correlation and a common factor, Economics Letters 115, 31–34.

 

Extensions

Nazlioglu, S., Payne, J. E., Lee, J., Rayos-Velazquez, M., & Karul, C. (2021). Convergence in OPEC carbon dioxide emissions: Evidence from new panel stationarity tests with factors and breaks. Economic Modelling, 100, 105498.

Yapısal Kırılmalar

Panel LM

(Break)

Im, K., Lee, J., Tieslau, M. (2005) Panel LM Unit-root Tests with Level Shifts, Oxford Bulletin of Economics and Statistics 67, 393–419.

 

Westelund, J. (2012) Testing for unit roots in panel time-series models with multiple level breaks, The Manchester School Vol 80 No. 6 671–699.

 

Lee, J., & Tieslau, M. (2017). Panel LM unit root tests with level and trend shifts. Economic Modelling.

 

Panel KPSS

(Break)

Carrion-i-Silvestre, J.L., Del Barrio-Castro, T., Lopez-Bazo, E., (2005) Breaking the panels: An application to GDP per capita, Econometrics Journal, 8, 159–175.

Hadri, K., & Rao, Y. (2008). Panel Stationarity Test with Structural Breaks. Oxford Bulletin of Economics and Statistics, 70(2), 245-269.

 

Panel KPSS

(Fourier)

Nazlioglu, S., & Karul, C. (2017). A panel stationarity test with gradual structural shifts: Re-investigate the international commodity price shocks. Economic Modelling, 61, 181-192.

 

Nazlioglu, S., Payne, J. E., Lee, J., Rayos-Velazquez, M., & Karul, C. (2021). Convergence in OPEC carbon dioxide emissions: Evidence from new panel stationarity tests with factors and breaks. Economic Modelling, 100, 105498.

 

PANIC

(Break)

Bai, J. and Carrion-i-Silvestre, J. L. (2009). Structural changes, common stochastic trends, and unit roots in panel data, Review of Economic Studies, 76, 471–501.

 

PANIC LM (Fourier)

Nazlioglu, S., Lee, J., Karul, C., Tieaslau, M., You, Y. 2022. Panel unit root tests with smooth structural changes and a factor structure. Econometric Reviews (R&R).

Eşbütünleşme Testleri

Pedroni 

Pedroni, P., 1999. Critical values for cointegration tests in heterogeneous panels with multiple regressors. Oxford Bulletin of Economics and Statistics 61, 653–670.

 

 

Pedroni, P., 2004. Panel cointegration: asymptotic and finite sample properties of pooled time  series tests with an application to the PPP hypothesis: new results. Econometric Theory 20, 597–627.

 

CUSUM 

Westerlund, J., 2005. A Panel CUSUM Test of the Null of Cointegration, Oxford Bulletin of Economics and Statistics 67, 231–262.

 

ECM

Westerlund, J., 2007. Testing for Error Correction in Panel Data, Oxford Bulletin of Economics and Statistics 69, 709-748.

 

LM 

Westerlund, J., Edgerton, D. L., 2007. A Panel Bootstrap Cointegration Test. Economics Letters 97, 185–190.

 

Durbin-h 

Westerlund, J., 2008. Panel cointegration tests of the Fisher effect, Journal of Applied Econometrics 23, 193–233.

 

LM

(Break)

Westerlund, J. (2006) Testing for panel cointegration with a level break, Economics Letters 91 (2006) 27–33.

 

Westerlund, J., 2006. Testing for panel cointegration with multiple structural breaks. Oxford Bulletin of Economics and Statistics 68, 101-132.

 

Westerlund, J., Edgerton, D. L., 2008.  A Simple Test for Cointegration in Dependent Panels with Structural Breaks. Oxford Bulletin of Economics and Statistics 70, 665-704.

Eşbütünleşme Tahmincileri

Panel ARDL

Pesaran, M. H., Shin, Y. and Smith, R. J. (1999), Pooled Mean Group Estimation of Dynamic Heterogeneous Panels, Journal of the American Statistical Association, 94, 621–634..

 

Panel FMOLS

Pedroni, P., 2000. Fully modified OLS for heterogeneous cointegrated panels. Advances in  Econometrics 15, 93–130.

 

Panel DOLS

Pedroni, P., 2001. Purchasing Power Parity Tests in cointegrated panels. Review of Economics and Statistics 83, 727–731.

 

CCE

Pesaran, M.H., (2006) Estimation and inference in large heterogeneous panels with a multifactor error structure, Econometrica, Vol. 74, No. 4, 967–1012.

 

CUP-FM

Bai, J., and C. Kao. (2005). ‘‘On the Estimation and Inference of a Panel CointegrationModel  with  Cross-Sectional Dependence.’’  In  B.  Baltagi  (ed.),  Contributions  to Economic Analysis. Amsterdam: Elsevier.

 

BA-OLS

Westerlund, J. (2007) Estimating Cointegrated Panels with Common Factors and the Forward Rate Unbiasedness Hypothesis, Journal of Financial Econometrics, 2007, Vol. 5, No. 3, 491–522.

 

IFE

Bai, J. 2009. Panel data models with interactive fixed effects. Econometrica 77:1229–79.

 

PPC

Greenaway-McGrevy, R., Han, C., & Sul, D. (2012). Asymptotic distribution of factor augmented estimators for panel regression. Journal of Econometrics, 169(1), 48-53.

 

Gaibulloev, K., Sandler, T., & Sul, D. (2014). Dynamic panel analysis under cross-sectional dependence. Political Analysis, 22(2), 258-273.

Panel Nedensellik

Panel VECM

Constantini, V., Martini, C. (20010) The causality between energy consumption and economic growth: A multi-sectoral analysis using non-stationary cointegrated panel data, Energy Economics 32 (2010) 591–603.

 

Caning & Pedroni

Canning, D., Pedroni, P. (2008) Infrastructure, long-run economic growth and causality tests for cointegrated panels, The Manchester School Vol 76 No. 5, 504-527.

 

Dumitrescu & Hurlin

Dumitrescu, E., Hurlin, C. (2012) Testing for Granger non-causality in heterogeneous panels, Economic Modelling 29 (2012) 1450–1460.

 

Panel Fisher

Emirmahmutoglu, F., Kose, N. (2011) Testing for Granger causality in heterogeneous mixed panels, Economic Modelling 28 (2011) 870–876.

 

Bootstrap test

Kónya, L. (2006) Exports and growth: Granger causality analysis on OECD countries with a panel data approach, Economic Modelling, 23 (6), pp. 978-992.

 

Panel Asimetrik Nedensellik

Hatemi-J, A. (2011). Asymmetric Panel Causality Tests with an Application to the Impact of Fiscal Policy on Economic Performance in Scandinavia. MPRA Paper No. 55527. http://mpra.ub.uni-muenchen.de/55527/.

 

Hatemi-J, A., Ajmi, A. N., El Montasser, G., Inglesi-Lotz, R., & Gupta, R. (2016). Research output and economic growth in G7 countries: new evidence from asymmetric panel causality testing. Applied Economics, 48(24), 2301-2308. 

Spesifikasyon Testleri

LM

Breusch, T.S. and Pagan, A.R. (1980) The Lagrange multiplier test and its applications to model specification in econometrics, Review of Econometric Studies, 47 (1), 239-253.

 

CD

Pesaran, M.H. (2004) General diagnostic tests for cross section dependence in panels, CESifo Working Paper Series, 1229.

 

BA-LM 

Pesaran, M. H., Ullah, A. and Yamagata, T. (2008) A bias-adjusted LM test of error cross-section independence, Econometrics Journal 11, 105–127.

 

Delta 

Pesaran, M. H., Yamagata, T. (2008) Testing slope homogeneity in large panels, Journal of Econometrics, 142(1), pp. 50–93.

 

 

 

 

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