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Re: st: two stage model variance estimators

From   "Clive Nicholas" <>
Subject   Re: st: two stage model variance estimators
Date   Fri, 16 Sep 2005 08:58:54 +0100 (BST)

Rachel Bouvier wrote:


> My first model is regressing the log of GDP on the year (ie, 1996) and
> the square of the year (ie, 3984016).  Originally, I ran this model
> separately for 30 countries.  I then obtained the predicted value of the
> log of GDP for each of those countries (by using -predict-) and used it
> in a second model.


Perhaps I've missed something, but I really _don't_ see the logic in
generating a quadratic term from a variable that merely records the year.
Why not use year dummies instead?

CLIVE NICHOLAS        |t: 0(044)7903 397793
Politics              |e:
Newcastle University  |

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