Quantitative and Qualitative Approaches
Edited by Larry Dwyer, Alison Gill and Neelu Seetaram
Neelu Seetaram and Sylvain Petit INTRODUCTION Panel data sets are also known as longitudinal data or cross-sectional time series data. They have spatial (N) and temporal (T) dimensions. They constitute of a number of observations over time on a number of cross-sectional units such as individuals, firms, and countries allowing researchers to analyse the dynamics of change in short time series data. According to Baltes and Nesselroade (1979), longitudinal data and techniques involve “a variety of methods connected by the idea that the entity under investigation is observed repeatedly as it exists and evolves over time”. These methods have been applied in different research disciplines. Frees (2004) posits that they have developed because important databases have become available to empirical researchers. The term panel data was introduced by Lazarsfeld and Fiske (1938, in Frees 2004) in their study of the effect of the relationship between radio advertising and product sales, where they proposed to interview a ‘panel’ of consumer over time. Toon (2000 in Frees 2004), acknowledges Engel’s 1857 budget surveys as the earliest application of longitudinal data. In this survey Engel collected data on the expenditure pattern from the same set of subjects over a period time. The aim was to study expenditure on food as a function of income. Panel data modelling and estimation techniques were developed in the second half of the twentieth century. Early applications of this technique are those of Kuh (1959), Johnson (1960), Mundlak (1961) and Hoch (1962) who used the fixed effect models...
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