Employment, wages, and capital stock for UK companies: an unbalanced annual panel over 1976–1984 (140 companies, 1,031 firm-year observations). This is the companion dataset to Arellano, M. and Bond, S. (1991), "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, 58(2), 277–297, shipped as distributed (levels plus the log transforms and year dummies used throughout the Stata literature).
Format
A data frame with 1,031 observations and 16 variables:
- ind
Industry code.
- year
Calendar year (1976–1984). The time variable: use as
tvar.- emp
Employment.
- wage
Real wage.
- cap
Gross capital stock.
- indoutpt
Industry output.
- n
Log employment,
log(emp).- w
Log real wage,
log(wage).- k
Log gross capital stock,
log(cap).- ys
Log industry output,
log(indoutpt).- yr1980
Year dummy: 1 if
year == 1980.- yr1981
Year dummy: 1 if
year == 1981.- yr1982
Year dummy: 1 if
year == 1982.- yr1983
Year dummy: 1 if
year == 1983.- yr1984
Year dummy: 1 if
year == 1984.- id
Firm identifier (140 distinct companies). Use as
ivar.
Source
Arellano, M. and Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Review of Economic Studies, 58(2), 277–297.
Downloaded from http://fmwww.bc.edu/ec-p/data/macro/abdata.dta.
Redistribution basis: system.file("COPYRIGHTS", package = "ivreg2r").
Details
n, w, k, and ys are natural logs of
emp, wage, cap, and indoutpt respectively.
yr1980–yr1984 are year-dummy indicators (1 in the named
year, 0 otherwise).
Examples
data(abdata)
# ivreg2 help file line 1558: one-way cluster on firm id
fit <- ivreg2(n ~ w + k, data = abdata, clusters = ~id)
summary(fit)
#>
#> OLS Estimation
#>
#> Call:
#> ivreg2(formula = n ~ w + k, data = abdata, clusters = ~id)
#>
#> Observations: 1,031
#> VCV type: Cluster-robust
#> Clusters: 140 (id)
#>
#> Coefficients:
#> Estimate Std. Error z value Pr(>|z|)
#> (Intercept) 2.55693 0.67565 3.784 0.000154 ***
#> w -0.36363 0.21596 -1.684 0.092230 .
#> k 0.81085 0.03248 24.963 < 2e-16 ***
#> ---
#> Signif. codes: 0 ‘***’ 0.001 ‘**’ 0.01 ‘*’ 0.05 ‘.’ 0.1 ‘ ’ 1
#> ---
#> R-squared: 0.8345
#> Adj. R-squared: 0.8342
#> Wald chi2(2): 322.5 (p < 2.2e-16)
#> Root MSE: 0.5455
#>