Estimating dynamic panel data models: a guide for macroeconomists
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System GMM is regarded as an effective analytical method because it overcomes problems of normality, skewness, endogeneity, and serial correlation that arise in OLS and fixed/random effects techniques.
“This technique is regarded as an effective analytical method because it overcomes the problems of normality, skewness, endogeneity, and serial correlation that arise in OLS and fixed/random effects techniques (Judson and Owen 1999).”
From Diversity Matters in the World of Finance: Does Ethnic and Religious Diversity Hinder Financial Development in Developing Countries? (2025) · cites this paper as Judson and Owen 1999
Cites
Initial conditions and moment restrictions in dynamic panel data models
Blundell, R., & Bond, S. (1998) · Journal of Econometrics · doi:10.1016/s0304-4076(98)00009-8 · Cited by 22,571 · see citing works
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How to do Xtabond2: An Introduction to Difference and System GMM in Stata
Roodman, D. (2009) · The Stata Journal: Promoting communications on statistics and Stata · doi:10.1177/1536867x0900900106 · Cited by 9,848 · see citing works
Do natural resources fuel authoritarianism? A reappraisal of the resource curse
HABER, S., & MENALDO, V. (2011) · American Political Science Review · doi:10.1017/s0003055410000584 · Cited by 1,128 · see citing works
Interpreting pre-trends as anticipation: Impact on estimated treatment effects from tort reform
Malani, A., & Reif, J. (2015) · Journal of Public Economics · doi:10.1016/j.jpubeco.2015.01.001 · Cited by 178 · see citing works
Destined for Democracy? Labour Markets and Political Change in Colonial British America
Nikolova, E. (2017) · British Journal of Political Science · doi:10.1017/s0007123415000101 · Cited by 35 · see citing works
Does inequality lead to credit growth? Testing the Rajan hypothesis using state-level data
Yamarik, S., El-Shagi, M., & Yamashiro, G. (2016) · Economics Letters · doi:10.1016/j.econlet.2016.09.004 · Cited by 24 · see citing works
Amin, S. (2021) · Society and Business Review · doi:10.1108/sbr-01-2020-0007 · Cited by 9 · see citing works
Amin, S., & Murshed, S. M. (2025) · The Developing Economies · doi:10.1111/deve.12434 · Cited by 7 · see citing works
- Authors
- Judson, R. A., & Owen, A. L.
- Affiliations
- Federal Reserve Board of Governors (US)
- Hamilton College (US)
- Corresponding author
- Owen, Ann L
- ORCID
- Owen, Ann L
- Venue
- Economics Letters
- Publisher
- Elsevier BV
- Published
- 1999-10
- Volume
- 65
- Issue
- 1
- Pages
- 9-15
- ISSN
- 0165-1765 (ISSN-L)
- OpenAlex
- W2007867145
- Cited by
- 2,171
- References
- 1
- Citations by year
- 2026: 69 · 2025: 62 · 2024: 72 · 2023: 60 · 2022: 85 · 2021: 102 · 2020: 99 · 2019: 102 · 2018: 124 · 2017: 116 · 2016: 89 · 2015: 100 · 2014: 140 · 2013: 131 · 2012: 98
- FWCI
- 45.94
- Type
- journal article
- Language
- en
- Open access
- green
- doi.org
- Locations
- Economics Letters (publishedVersion)
- SSRN Electronic Journal (acceptedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Spatial and Panel Data Analysis
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Growth and Productivity
- Physical Sciences › Mathematics › Statistics and Probability › Statistical Methods and Bayesian Inference
- Keywords
- dynamic panel data, estimation bias, generalized method of moments, Monte Carlo simulation
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Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
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