LabourCR {gmm4} | R Documentation |
A panel data set of 565 individuals from 1976 to 1982 used by Cornwell and Rupert (1988)
data("LabourCR")
A data frame with 4165 observations on the following 12 variables.
EXP
Year of full time experience.
WKS
Weeks worked.
OCC
1 if blue-collar occupation, 0 otherwise.
IND
1 if works in a manufacture industry, 0 otherwise.
SOUTH
1 if resides in the south, 0 otherwise.
SMSA
1 if resides in an SMSA, 0 otherwise.
MS
1 if married, 0 otherwise.
FEM
1 if the individual is a female and 0 otherwise.
UNION
1 if wage is set by a union contract and 0 otherwise.
ED
Years of education.
BLK
1 if the individual is black and 0 otherwise.
LWAGE
Log wage.
Greene (2012) online resources: (http://pages.stern.nyu.edu/~wgreene/Text/Edition7/tablelist8new.htm)
Green, W.H.. (2012). Econometric Analysis, 7th edition, Prentice Hall.
Cornwell, C. and Rupert, P. (1988), Efficient Estimation with Panel Data: An Empirical Comparision of Instrumental Variable Estimators, Journal of Applied Econometrics, No.3, 149–155.
data(LabourCR) ## Table 8.1 of Greene (2012) ## Model with Z2 (iid is assumed in Table 8.1 given the s.e.) model2 <- gmmModel(WKS~LWAGE+ED+UNION+FEM, ~IND+ED+UNION+FEM+SMSA, vcov="iid", data=LabourCR) ## Model with Z1 using the subsetting method '[' model1 <- model2[-6L] # Second column res1 <- tsls(model1) summary(res1)@coef # Third column res2 <- tsls(model2) summary(res2)@coef