Test whether the model is correctly specified

Reference no: EM131248286

Continue with the model of the previous question. Consider the Arellano-Bond estimator. For each time period, state what instruments are used by the estat abond command. Perform the Areliano-Bond estimator using the data on lwage. Obtain the one-step estimator with robust standard errors. Obtain the two-step estimator with robust standard errors. Compare the estimates and their standard errors. Is there an efficiency gain compared with your answer in the previous question? Use the estat abond command to test whether the errors air are serially =correlated. Use the estat sargan command to test whether the model is correctly specified.

Reference no: EM131248286

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