Hi everyone,
I tried zapping through the search a bit but could no find a correct answer. My problem. I am running FE on quite a large Panel data set (15,000 groups, 30,000 observations) and have around 10 dependent variables. However, when I estimate my model I get a within R-Square of 0.001 or 0.004, so EXTREMLY low. However individual variables seem to be statistically significant (t>3).
What to do about this? Is my model just garbage? Alternatively I read somewhere that individual significance is much more useful in panel data.
Any input on this?
Many thanks in advance!!
I tried zapping through the search a bit but could no find a correct answer. My problem. I am running FE on quite a large Panel data set (15,000 groups, 30,000 observations) and have around 10 dependent variables. However, when I estimate my model I get a within R-Square of 0.001 or 0.004, so EXTREMLY low. However individual variables seem to be statistically significant (t>3).
What to do about this? Is my model just garbage? Alternatively I read somewhere that individual significance is much more useful in panel data.
Any input on this?
Many thanks in advance!!
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