Understanding Binary Interaction Terms
Dummy variables are among the simplest yet most powerful tools in econometrics. They allow us to represent qualitative differences such as crisis versus non-crisis periods, treated versus untreated…
Dummy variables are among the simplest yet most powerful tools in econometrics. They allow us to represent qualitative differences such as crisis versus non-crisis periods, treated versus untreated…
This post is based on two videos posted by Vasilis Sarafidis on his YouTube channel. In the first one, he presents briefly the theory about the rank condition…
This post has been inspired by a fascinating discussion with Hiro Ito, Eric Clower and Kamila Kuziemska-Pawlak. In an old paper of mine (j.econmod.2015.02.007) written in 2015, I…
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