PANEL Procedure

The following features have been added to the PANEL procedure:

  • The status of panel unit root tests changed from experimental to production.

  • The system GMM estimator proposed by Blundell and Bond (1998) is supported. The default changed to system GMM. The DEPVAR option has been modified. It can take the form of DEPVAR(LEVEL), DEPVAR(DIFF), and DEPVAR(ALL), depending on whether the level or the differenced variables are used as instruments.