Longitudinal Data Analysis

By blending inter-individual differences with intra-individual dynamics, panel data allow the investigation of more complicated behavioural hypotheses than those that can be addressed using cross-sectional or time-series data.

Abstract

'Longitudinal data' (or 'panel data') refers to data-sets that contain time series observations of a number of individuals. In other words, it provides multiple observations for each individual in the sample. Compared with cross-sectional data, in which observations for a number of individuals are available only for a given time, or time-series data, in which a single entity is observed over time, panel data have the obvious advantages of more degrees of freedom and less collinearity among explanatory variables, and so provide the possibility of obtaining more accurate parameter estimates. More importantly, by blending inter-individual differences with intra-individual dynamics, panel data allow the investigation of more complicated behavioural hypotheses than those that can be addressed using cross-sectional or time-series data.KeywordsPanel DataUnit RootUnit Root TestGeneralize Little SquareInitial WealthThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.