Keywords - Function groups - @ A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

 Quantlet: panrand Description: estimation of a static Random-Effects-Model

 Usage: output = panrand(z,siga,sige,m {,T}) Input: z NT x (k+2) matrix, data set ordered by individuals (i); 1st column: index of individuals 2nd column: dependent variable 3rd ... column: explanatory variables (without constant!) siga scalar, variance estimate of individual effects sige scalar, variance estimate of the remaining error m scalar, number of explanatory variables which are treated as correlated with the fixed effects, the remaining variables are assumed to be uncorrelated with the individual effects (= mixed specification) T scalar, number of time periods for a BALANCED data set IMPORTANT: There has to be no column for the index of individuals! (for a data set with the same T for all individuals = BALANCED PANEL) Output: output string with output table

Example:
```library("panel")
z1 = z[,1:2]~log(z[,3])~z[,4]~(z[,4]^2)
{output,siga,sige}=panfix(z1,2)
panrand(z1,siga,sige,0)

```
Result:
```Contents of output
[ 1,] "====================================================="
[ 2,] "Random-Effect Model: y(i,t)=x(i,t)'beta+ a(i) +e(i,t)"
[ 3,] "====================================================="
[ 4,] "PARAMETERS        Estimate        SE          t-value"
[ 5,] "====================================================="
[ 6,] "beta[ 1 ]=        0.070265       0.01067        6.587"
[ 7,] "beta[ 2 ]=     -0.00036881     0.0002076       -1.777"
[ 8,] "constant =          6.7578        0.1515       44.619"
[ 9,] "====================================================="
[10,] "R-square:  0.9946 ,    N =    100 ,   N*T =      500 "
[11,] "====================================================="
```

Author: J. Breitung, 20011012 license MD*Tech
(C) MD*TECH Method and Data Technologies, 05.02.2006