Hi,
I wrote about this model but changed the independent variables. I'm doing panel analysis. My model has 264 observations, 22 T and 12 N, 5 independent variables and is balanced. The real effective exchange rate is 2015=100 for each country and Brent crude oil has the same value for each country. As a result of the Mundlak test, I obtained a fixed effect model. However, residuals terms are not normally distributed. Taking logarithms didn't work, what can I do?
I wrote about this model but changed the independent variables. I'm doing panel analysis. My model has 264 observations, 22 T and 12 N, 5 independent variables and is balanced. The real effective exchange rate is 2015=100 for each country and Brent crude oil has the same value for each country. As a result of the Mundlak test, I obtained a fixed effect model. However, residuals terms are not normally distributed. Taking logarithms didn't work, what can I do?
Code:
* Example generated by -dataex-. For more info, type help dataex clear input double ca float(yek ea) double gdp float(redk brent) int yıl byte ulke -9.920e+09 10102.16 52180.72 2.74303e+11 92.15719 28.49545 2000 1 3.760e+09 9377.525 48662.52 2.01751e+11 73.2093 24.44389 2001 1 -6.260e+08 10042.553 54323.45 2.40253e+11 82.82148 25.023256 2002 1 -7.554e+09 10020.818 60991.14 3.14592e+11 90.47211 28.830704 2003 1 -1.4198e+10 10782.894 63548.47 4.08876e+11 94.2322 38.265 2004 1 -2.098e+10 10130.52 67511.414 5.06308e+11 104.15483 54.52109 2005 1 -3.1161e+10 10359.1 75852.016 5.57058e+11 102.41817 65.144066 2006 1 -3.6946e+10 9603.859 82220.11 6.81337e+11 110.88652 72.38908 2007 1 -3.9425e+10 9311.924 79538.48 7.70462e+11 112.61688 97.25597 2008 1 -1.136e+10 9916.2 75934.516 6.49273e+11 106.31525 61.67126 2009 1 -4.462e+10 11626.51 81884.13 7.76993e+11 117.598 79.49554 2010 1 -7.4402e+10 11222.918 88848.6 8.38763e+11 103.39072 111.2556 2011 1 -4.796e+10 12151.463 98198.56 8.80556e+11 107.75486 111.6697 2012 1 -5.5856e+10 13064.223 95896.04 9.57783e+11 106.28954 108.65852 2013 1 -3.8851e+10 12055.826 102161.27 9.38953e+11 101.05545 98.94601 2014 1 -2.7314e+10 15657.665 112443.14 8.64317e+11 100 52.38676 2015 1 -2.7038e+10 17135.936 113526.32 8.69693e+11 98.56945 43.73417 2016 1 -4.0877e+10 17738.857 124651.52 8.58996e+11 88.1853 54.19244 2017 1 -2.174e+10 19114.537 116027 7.78472e+11 73.81125 71.31006 2018 1 5.303e+09 23339.12 115339.98 7.59937e+11 74.51665 64.21057 2019 1 -3.5537e+10 24076.254 113650.4 7.20289e+11 66.94376 41.83834 2020 1 -1.3693e+10 24131.15 123713.63 8.19035e+11 59.20414 70.911896 2021 1 -3106733996 10112.826 174380.86 1.14668e+12 96.5514 28.49545 2000 2 1814148808 10341.08 169891.23 1.16802e+12 97.08913 24.44389 2001 2 -6277210864 10889.378 174386.14 1.27677e+12 99.29518 25.023256 2002 2 -12128604342 12909.27 179640.16 1.57762e+12 105.9516 28.830704 2003 2 -8978989363 12963.412 185162.05 1.80654e+12 107.68027 38.265 2004 2 -16714795195 14106.718 190042.36 1.85822e+12 105.95556 54.52109 2005 2 -28321585639 15326.492 192150.14 1.94955e+12 105.47578 65.144066 2006 2 -30129935945 16945.996 189869.3 2.2131e+12 106.39691 72.38908 2007 2 -66400853363 19707.18 185678.9 2.40866e+12 107.93314 97.25597 2008 2 -40410770649 21026.557 168942.83 2.19993e+12 109.31352 61.67126 2009 2 -70819281580 21864.3 179160.13 2.1361e+12 104.3373 79.49554 2010 2 -64808125979 21025.854 169399.27 2.29499e+12 104.48255 111.2556 2011 2 -5129312523 23884.74 162996.77 2.08696e+12 102.51107 111.6697 2012 2 24764660544 26370.627 148694.81 2.14192e+12 104.4103 108.65852 2013 2 40309629204 26512.29 137066.42 2.16201e+12 104.6746 98.94601 2014 2 26369229238 26268.705 150660.64 1.83664e+12 100 52.38676 2015 2 49686018258 26017.92 152596.11 1.87707e+12 100.8403 43.73417 2016 2 53102122703 28821.096 157930.13 1.9618e+12 101.4173 54.19244 2017 2 53985858785 29281.72 152939.47 2.09193e+12 103.37186 71.31006 2018 2 66320786088 29512.13 151902.86 2.0113e+12 101.07948 64.21057 2019 2 74508740778 29344.686 131128.05 1.89676e+12 101.92516 41.83834 2020 2 64719172848 29881.715 144188.78 2.1077e+12 101.52102 70.911896 2021 2 -25928189733 6812.527 108573.6 5.98363e+11 91.99219 28.49545 2000 3 -27555477892 8153.412 107622.4 6.2783e+11 93.11381 24.44389 2001 3 -26251685129 6892.058 115518.85 7.08757e+11 95.76795 25.023256 2002 3 -35103881712 9192.567 117504.9 9.07492e+11 101.1051 28.830704 2003 3 -58677027283 8809.626 125313.2 1.06906e+12 103.08232 38.265 2004 3 -83915470590 8392.96 134095.08 1.15372e+12 103.1746 54.52109 2005 3 -1.11532e+11 9156.91 136088.33 1.2604e+12 104.21236 65.144066 2006 3 -1.39288e+11 10000.718 137014.53 1.474e+12 105.8644 72.38908 2007 3 -1.45716e+11 10545.27 136159.28 1.63186e+12 108.5638 97.25597 2008 3 -60418930687 12564.99 125068.56 1.49147e+12 109.0497 61.67126 2009 3 -52249545356 15044.345 121963.48 1.42211e+12 105.5756 79.49554 2010 3 -39975229878 14814.235 122168.66 1.48071e+12 105.85408 111.2556 2011 3 735150583 16123.296 125514.66 1.32475e+12 103.28827 111.6697 2012 3 27588004255 17716.016 119476.05 1.35558e+12 105.24082 108.65852 2013 3 22662337679 18064.318 123634.18 1.37182e+12 104.75703 98.94601 2014 3 24107676878 17007.857 125163.13 1.19616e+12 100 52.38676 2015 3 39298651172 17484.887 124939.5 1.23355e+12 100.6997 43.73417 2016 3 36857922351 16590.508 134184.28 1.31325e+12 102.09117 54.19244 2017 3 26481556490 18163.223 132737.8 1.4217e+12 104.1833 71.31006 2018 3 29247197810 18365.55 129967.52 1.39432e+12 102.42796 64.21057 2019 3 8044556209 19089.533 109174.4 1.27696e+12 103.0662 41.83834 2020 3 13445134647 20509.385 116888.34 1.42738e+12 103.67112 70.911896 2021 3 -1.0343e+10 3801.557 29720.664 1.72219e+11 98.20818 28.49545 2000 4 -5.946e+09 4070.756 30722.92 1.90905e+11 109.85765 24.44389 2001 4 -5.544e+09 4142.185 31468.115 1.99072e+11 105.00015 25.023256 2002 4 -5.473e+09 4148.118 32023.705 2.17827e+11 93.58376 28.830704 2003 4 -1.4625e+10 4320.78 33843.734 2.5511e+11 92.51904 38.265 2004 4 -8.845e+09 4486.514 36110.746 3.06144e+11 102.85096 54.52109 2005 4 -1.4903e+10 4694.944 39956.82 3.44622e+11 104.34894 65.144066 2006 4 -2.8734e+10 4823.745 42071.47 4.29029e+11 107.6175 72.38908 2007 4 -3.7306e+10 5559.413 44638.4 5.33609e+11 117.11584 97.25597 2008 4 -1.8562e+10 6279.418 43035.82 4.39738e+11 100.09376 61.67126 2009 4 -2.666e+10 7314.159 47382.39 4.75697e+11 106.21946 79.49554 2010 4 -2.8346e+10 7992.56 49918.33 5.24383e+11 103.72767 111.2556 2011 4 -2.0193e+10 8677.736 47358.43 4.95237e+11 101.46102 111.6697 2012 4 -9.465e+09 8655.089 45938.36 5.15765e+11 101.67303 108.65852 2013 4 -1.4212e+10 8717.706 47483.13 5.39088e+11 102.70433 98.94601 2014 4 -4.347e+09 9103.113 49708 4.77111e+11 100 52.38676 2015 4 -3.719e+09 8909.692 51873.47 4.70023e+11 96.50712 43.73417 2016 4 -2.068e+09 9047.198 57881.85 5.24646e+11 99.1437 54.19244 2017 4 -7.537e+09 12285.053 64155.28 5.88783e+11 100.09654 71.31006 2018 4 2.832e+09 12701.968 63327.05 5.96055e+11 99.14514 64.21057 2019 4 1.7319e+10 12950.824 58492.03 5.99449e+11 100.20245 41.83834 2020 4 -4.568e+09 13081.85 59591.23 6.79445e+11 99.67339 70.911896 2021 4 -2689755314 1616.016 17855.107 61828166496 75.48755 28.49545 2000 5 -3272573494 1743.214 19078.29 67808032980 80.01455 24.44389 2001 5 -4264835726 1960.317 19453.904 82196001051 88.57081 25.023256 2002 5 -5785485093 1840.025 19807.785 1.0009e+11 86.65413 28.830704 2003 5 -4457211225 2024.549 19729.414 1.19814e+11 87.14063 38.265 2004 5 -2809704226 2100.607 21000.09 1.37143e+11 91.49528 54.52109 2005 5 -3996084353 2231.405 21846.703 1.56264e+11 95.48225 65.144066 2006 5 -8945618936 2344.385 20695.703 1.90184e+11 97.96303 72.38908 2007 5 -4407952631 2549.033 21175.436 2.36816e+11 112.66393 97.25597 2008 5 -4869768333 2881.324 20254.52 2.07434e+11 108.41588 61.67126 2009 5 -7351204484 3177.609 20638.34 2.0907e+11 109.8289 79.49554 2010 5 -5020059122 3498.223 21373.145 2.29563e+11 112.07775 111.2556 2011 5 end
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