I have estimated fixed, random, hybrid, and correlated random effects models following Reinhard Schunck's article "Within and between estimates in random-effects models: Advantages and drawbacks of correlated random effects and hybrid models." However, when I run the Hausman test, I get some dots in the right-most column in the following result. My panel data has 50 clusters and 17 periods and is strongly balanced.
Any advice would be appreciated.
However, I do not get these dots when I run fe and re-models before the Hausman test without including the year-fixed effects. See the following results:
Does anyone know why I am getting these dots? I am not sure whether the information I provide is sufficient to understand my problem. Any advice would be appreciated.
Ijaz
Any advice would be appreciated.
Code:
. hausman fe re
---- Coefficients ----
| (b) (B) (b-B) sqrt(diag(V_b-V_B))
| fe re Difference Std. err.
-------------+----------------------------------------------------------------
econfre | .735193 .652026 .083167 .0628192
prop_pvt_enr | 3.931047 2.89601 1.035037 .4946274
legis_profes | .0014851 .0059278 -.0044427 .0039628
year |
2006 | .1999835 .2203892 -.0204056 .
2007 | .4463056 .4628292 -.0165236 .
2008 | .7932149 .8093098 -.0160949 .
2009 | 1.046555 1.015324 .0312309 .0343462
2010 | 1.046008 1.026366 .019642 .0383504
2011 | 1.18577 1.182135 .0036346 .0263476
2012 | 1.159966 1.185721 -.0257553 .009921
2013 | 1.395991 1.418851 -.0228602 .0078753
2014 | 1.181323 1.227975 -.0466517 .0100741
2015 | 1.245597 1.284881 -.0392841 .
2016 | 1.271927 1.304402 -.0324754 .
2017 | 1.174128 1.205104 -.0309764 .
2018 | 1.143925 1.176945 -.0330199 .
2019 | 1.248591 1.269823 -.0212323 .
2020 | 1.639967 1.681629 -.0416624 .
2021 | 1.400029 1.435361 -.0353313 .
------------------------------------------------------------------------------
b = Consistent under H0 and Ha; obtained from xtreg.
B = Inconsistent under Ha, efficient under H0; obtained from xtreg.
Test of H0: Difference in coefficients not systematic
chi2(19) = (b-B)'[(V_b-V_B)^(-1)](b-B)
= 6.94
Prob > chi2 = 0.9945
(V_b-V_B is not positive definite)
.
end of do-file
Code:
. hausman modelFE3 modelRE3
---- Coefficients ----
| (b) (B) (b-B) sqrt(diag(V_b-V_B))
| modelFE3 modelRE3 Difference Std. err.
-------------+----------------------------------------------------------------
econfre | .6612818 .5860479 .0752338 .038665
prop_pvt_enr | 6.010547 4.245311 1.765236 .5620877
legis_profes | -.0047386 .0008039 -.0055425 .0041265
------------------------------------------------------------------------------
b = Consistent under H0 and Ha; obtained from xtreg.
B = Inconsistent under Ha, efficient under H0; obtained from xtreg.
Test of H0: Difference in coefficients not systematic
chi2(3) = (b-B)'[(V_b-V_B)^(-1)](b-B)
= 13.18
Prob > chi2 = 0.0043
.
end of do-file
Ijaz
