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st: Varying results for levpet


From   SAM MCCAW <sam2stata@gmail.com>
To   statalist@hsphsun2.harvard.edu
Subject   st: Varying results for levpet
Date   Fri, 5 Oct 2012 17:38:52 -0400

Hi All,

I have run into an issue with my stata results when I run levpet
industry by industry.

When I run the following command for Levihnson-Petrin I get different
results each time.

eststo: levpet lnY if industry_no == 1, free (lnl) proxy (lnM) capital
(lnK1) revenue

For example, the first and second set of results are posted below. Is
this a similar effect to bootstrapping?

Thanks a lot.

SAM

//1.

Levinsohn-Petrin productivity estimator

Dependent variable represents revenue.          Number of obs      =      2042
Group variable (i): id                                      Number of
groups   =     58591
Time variable (t): year
                                                                   Obs
per group: min =         1

                   avg =       1.2

                  max =         3

------------------------------------------------------------------------------
         lnY |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
         lnl |     .1448912   .0225324     6.43   0.000     .1007285    .1890538
        lnK1 |   .0336222   .0698806     0.48   0.630    -.1033412    .1705856
         lnM |               1   .2034656     4.91   0.000
.6012147    1.398785
------------------------------------------------------------------------------
Wald test of constant returns to scale: Chi2 =   0.97 (p = 0.3243).
(est1 stored)

.
//2.

Levinsohn-Petrin productivity estimator

Dependent variable represents revenue.          Number of obs      =      2042
Group variable (i): id                          Number of groups   =     58591
Time variable (t): year
                                                Obs per group: min =         1
                                                               avg =       1.2
                                                               max =         3

------------------------------------------------------------------------------
         lnY |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
         lnl |     .1448912   .0273666     5.29   0.000     .0912537    .1985287
        lnK1 |   .0336222    .066174     0.51    0.611    -.0960764    .1633209
         lnM |              1   .2253513     4.44    0.000
.5583196     1.44168
------------------------------------------------------------------------------
Wald test of constant returns to scale: Chi2 =   0.95 (p = 0.3299).
(est2 stored)

.
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