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st: within estimator and effecomic effects

From   Erasmo Giambona <>
To   statalist <>
Subject   st: within estimator and effecomic effects
Date   Tue, 31 Jan 2012 10:43:12 +0100

Dear All,

To assess economic significance, people in finance (including myself)
usually rely on the effect of 1 standard deviation increase in the
independent variable (multiplied by the coefficient estimate). The
standard deviation is usually the sample standard deviation. In
principle, this seems incorrect when one is using the within estimator
(such as the estimator from xtreg). In this case, it would seem more
natural to rely on the within-unit standard deviation.

But I am wondering whether this is the correct way of looking at things.

I would appreciate if you could share any thoughts on this.

Best regards,

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