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Re: st: two stage model variance estimators


From   "Clive Nicholas" <Clive.Nicholas@newcastle.ac.uk>
To   statalist@hsphsun2.harvard.edu
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: clive.nicholas@ncl.ac.uk
Newcastle University  |http://www.ncl.ac.uk/geps

Whereever you go and whatever you do, just remember this. No matter how
many like you, admire you, love you or adore you, the number of people
turning up to your funeral will be largely determined by local weather
conditions.

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