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st: "cluster(firm)” vs “vce(cluster firm)”
From
"Julia Ke" <[email protected]>
To
[email protected]
Subject
st: "cluster(firm)” vs “vce(cluster firm)”
Date
Mon, 26 Nov 2012 22:48:22 +0100
Hi Statalist,
I am working on a panel data analysis whereby I use a country and time fixed effect and cluster by firm (panel).
My question concerns the clustering. The basic model I am using is of the form
Xi: regress y x1 x2 x3 x4 x5 i.country i.year
For the clustering, I am trying to understand the difference between adding “,cluster(firm)” and “vce(cluster firm)”.
Is there anything else I should pay special attention to?
Many thanks!
Julia
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