MIDTERM OUTPUT #1

.hausman fe1 re1, sigmamore

---- Coefficients ----

| (b) (B) (b-B) sqrt(diag(V_b-V_B))
| fe1 re1 Difference S.E.
-------------+----------------------------------------------------------------
lprbarr | -.3597944 -.4252097 .0654153 .0133827
lprbconv | -.2858733 -.3271464 .0412731 .0084853
lprbpris | -.1827812 -.1793507 -.0034305 .0065028
lavgsen | -.0044879 -.0083696 .0038816 .0037031
lpolpc | .4241142 .4294148 -.0053005 .0103217
d82 | .0125802 .0137442 -.001164 .0010763
d83 | -.0792813 -.075388 -.0038933 .0008668
d84 | -.1177281 -.1130975 -.0046306 .0013163
d85 | -.1119561 -.1057261 -.00623 .0014304
d86 | -.0818268 -.0795307 -.0022962 .0007719
d87 | -.0404704 -.0424581 .0019876 .001219
------------------------------------------------------------------------------
b = consistent under Ho and Ha; obtained from xtreg
B = inconsistent under Ha, efficient under Ho; obtained from xtreg

Test: Ho: difference in coefficients not systematic

chi2(5) = (b-B)'[(V_b-V_B)^(-1)](b-B)
= 78.79
Prob>chi2 = 0.0000
(V_b-V_B is not positive definite)
Fixed Effect Estimation with Lagged Dependent Variable
Anderson-Hsiao Estimation

Arellano-Bond Difference Estimation

System GMM Estimation