Panel Data - SPUR ECONOMICS

Wu-Hausman Test: Choosing between Fixed and Random Effects

The Wu-Hausman Test can be used to determine whether Fixed Effects Model or Random Effects Model is more appropriate. To apply this test, we need to estimate both the Fixed…

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March 25, 2022

Econometrics / Panel Data

Lagrange Multiplier Test: testing for Random Effects

The Breusch-Pagan Lagrange Multiplier Test is used to determine whether random effects are significant in panel data models. On the other hand, the Hausman Test is used to choose between…

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March 24, 2022

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