This article challenges Fixed Effects (FE) modelling as the 'defaultÂ' for time-series-cross-sectional and panel data. Understanding differences between within- and between-effects is crucial when ch
Abadie, Alberto, and Kasy, Maximilian, (2019) “Choosing among Regularized Estimators in Empirical Economics: The Risk of Machine Learning.” Review of Economics and Statistics 101:5, 743-762.
The data and programs replicate tables from "When Should You Adjust Standard Errors for Clustering?", by Abadie, Athey, Imbens, and Wooldridge. Please see the readme file for additional details.
Sizeable differences between OLS (Ordinary Least Squares) and IV (Instrumental Variables) estimates might be interpreted in the literature as evidence that the instrument is not valid. Yet, to the bes
