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st: Varying results for levpet
From
SAM MCCAW <[email protected]>
To
[email protected]
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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