Testtest

[Laura Zutphen]

This is my test post
Would it work?

With a code:

reg y x1 x2

[Laura Zutphen]

reg y x1 x2

[Laura Zutphen]

. xi: xtabond2 logsavings L.logsavings ni incunc incgrowth i.year if year<=2008, two r or gmm(L.logsavings incgrowth, lag(2 .) c) gmm(ni incunc, c) iv(i.year)
i.year            _Iyear_2003-2015    (naturally coded; _Iyear_2003 omitted)
Favoring space over speed. To switch, type or click on mata: mata set matafavor speed, perm.
Warning: Two-step estimated covariance matrix of moments is singular.
  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
  Difference-in-Sargan/Hansen statistics may be negative.

Dynamic panel-data estimation, two-step system GMM
------------------------------------------------------------------------------
Group variable: id                              Number of obs      =       854
Time variable : year                            Number of groups   =       567
Number of instruments = 29                      Obs per group: min =         1
Wald chi2(16) =  63124.12                                      avg =      1.51
Prob > chi2   =     0.000                                      max =         2
------------------------------------------------------------------------------
             |              Corrected
  logsavings |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
  logsavings |
         L1. |   .6081459   .1887841     3.22   0.001     .2381359    .9781559
             |
          ni |  -.0005938   .0844056    -0.01   0.994    -.1660258    .1648382
      incunc |   .0072606   .1314558     0.06   0.956    -.2503882    .2649093
   incgrowth |   .0362049   .2125225     0.17   0.865    -.3803315    .4527413
 _Iyear_2004 |          0  (omitted)
 _Iyear_2005 |          0  (omitted)
 _Iyear_2006 |          0  (omitted)
 _Iyear_2007 |   3.461967   1.812407     1.91   0.056     -.090286    7.014221
 _Iyear_2008 |   3.363448    1.81569     1.85   0.064    -.1952391    6.922134
 _Iyear_2009 |   3.451725   1.819736     1.90   0.058    -.1148916    7.018342
 _Iyear_2010 |   3.458569   2.003735     1.73   0.084    -.4686796    7.385817
 _Iyear_2011 |   3.689415   1.896649     1.95   0.052    -.0279479    7.406778
 _Iyear_2012 |   3.003755   1.866636     1.61   0.108    -.6547841    6.662294
 _Iyear_2013 |   2.598397   1.812518     1.43   0.152     -.954074    6.150867
 _Iyear_2014 |   4.221764   1.863327     2.27   0.023     .5697102    7.873818
 _Iyear_2015 |    3.77235   1.568236     2.41   0.016     .6986646    6.846036
       _cons |          0  (omitted)
------------------------------------------------------------------------------
Instruments for orthogonal deviations equation
  Standard
    FOD.(_Iyear_2004 _Iyear_2005 _Iyear_2006 _Iyear_2007 _Iyear_2008
    _Iyear_2009 _Iyear_2010 _Iyear_2011 _Iyear_2012 _Iyear_2013 _Iyear_2014
    _Iyear_2015)
  GMM-type (missing=0, separate instruments for each period unless collapsed)
    L(1/12).(ni incunc) collapsed
    L(2/12).(L.logsavings incgrowth) collapsed
Instruments for levels equation
  Standard
    _Iyear_2004 _Iyear_2005 _Iyear_2006 _Iyear_2007 _Iyear_2008 _Iyear_2009
    _Iyear_2010 _Iyear_2011 _Iyear_2012 _Iyear_2013 _Iyear_2014 _Iyear_2015
    _cons
  GMM-type (missing=0, separate instruments for each period unless collapsed)
    D.(ni incunc) collapsed
    DL.(L.logsavings incgrowth) collapsed
------------------------------------------------------------------------------
Arellano-Bond test for AR(1) in first differences: z =  -3.27  Pr > z =  0.001
Arellano-Bond test for AR(2) in first differences: z =   0.63  Pr > z =  0.528
------------------------------------------------------------------------------
Sargan test of overid. restrictions: chi2(12)   =  29.47  Prob > chi2 =  0.003
  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2(12)   =  20.67  Prob > chi2 =  0.055
  (Robust, but weakened by many instruments.)

Difference-in-Hansen tests of exogeneity of instrument subsets:
  GMM instruments for levels
    Hansen test excluding group:     chi2(8)    =  14.50  Prob > chi2 =  0.070
    Difference (null H = exogenous): chi2(4)    =   6.17  Prob > chi2 =  0.187
  gmm(L.logsavings incgrowth, collapse lag(2 .))
    Hansen test excluding group:     chi2(2)    =   7.56  Prob > chi2 =  0.023
    Difference (null H = exogenous): chi2(10)   =  13.12  Prob > chi2 =  0.217
  gmm(ni incunc, collapse lag(1 .))
    Hansen test excluding group:     chi2(2)    =  12.08  Prob > chi2 =  0.002
    Difference (null H = exogenous): chi2(10)   =   8.60  Prob > chi2 =  0.571
  iv(_Iyear_2004 _Iyear_2005 _Iyear_2006 _Iyear_2007 _Iyear_2008 _Iyear_2009 _Iyear_2010 _Iyear_2011 _Iyear_2012 _Iyear_2013 _Iyear_2014 _Iyear_2015)
    Hansen test excluding group:     chi2(4)    =   9.09  Prob > chi2 =  0.059
    Difference (null H = exogenous): chi2(8)    =  11.58  Prob > chi2 =  0.171