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  • FACULTEIT ECONOMIE, EN BEDRIJFSKUNDE, Gerdie Everaert, Lorenzo Pozzi
  • 2004
The within or least squares dummy variable estimator is severely biased in homogeneous dynamic panel models with moderate T. We present a bias correction for this estimator based on an iterative bootstrap procedure. Monte Carlo simulations show that this procedure is a good alternative for the analytical correction by Kiviet (1995, JE). The bootstrap (i)(More)
  • 2003
Acknowledgements: This paper builds on earlier work by Heylen, Schollaert and Dobbelaere (2001), who obtain similar conclusions. The theoretical model and the panel data results in the current paper are new contributions. We are grateful to Dirk Van de gaer, Ferre De Graeve, Rafael Doménech, Gert Peersman, Glenn Rayp and seminar participants in Maastricht(More)
  • FACULTEIT ECONOMIE, EN BEDRIJFSKUNDE, Lorenzo Pozzi, Freddy Heylen, Maarten Dossche
  • 2002
Any remaining errors are ours. The views expressed in this paper are those of the authors and do not necessarily reflect the views of the National Bank of Belgium. Abstract Empirical studies typically find that private consumption is much more sensitive to changes in current disposable income than is predicted by Hall's (JPE, 1978) permanent income(More)
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