st: Re: Panel data and lagged dep variable

[wangpan110 <wangpan110@hotmail.com>]

Hi Kit, as you indictaed "If you believe that it takes more than one of your
time periods for economic agents to adjust to changes in the Xs (or to
adjust to shocks), then the LDV is warranted." does that mean current value
of Y is closely related with previous value of Y? e.g company's current
income is closely related with previous income.
   
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