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sanjeev wrote:

TomDoan wrote: Board index ‹ Econometrics Issues ‹ Panel Data
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Dear Tom,
Thanks a lot for your reply!
Could you let me know the code to make a table of descriptive statistics in a panel data?

Please reply soon!

Regards.

sanjeev wrote:Dear Tom,
Thanks a ton for your reply! Could you let me know how to import a table of results from RATS into excel?

TomDoan wrote:1. Is there any compelling reason to believe that these series are cointegrated?
2. Is there any compelling reason to believe that these series are cointegrated, with rank one?

If they're not cointegrated, then you are doing a panel version of spurious regressions. If they're cointegrated, but of rank higher than one, then FMOLS (or DOLS, or almost anything else) won't work because there are then an infinite number of different possible cointegrating vectors. I'm not sure I've ever seen a serious piece of econometric work that claimed a single cointegrating vector among 7 I(1) variables.