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Features of cross-section-time series and panel data

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Question

1. Differentiate between the unique features of cross-section, time series and panel data.

2. In your own words, explain the reasons why a researcher will want to use panel data. Also provide some real-life examples where panel data is used in South Africa.

3. In your own words, describe how the fixed effects model differs from the random effects model.

4. Critically assess the assumptions of fixed and random effects models.

Reference no: EM133222926

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