When Should the Hausman-Taylor Estimator Be Used

question 9

Multiple Choice

When should the Hausman-Taylor estimator be used?

• A)when a RE model has some endogenous regressors
• B)when FE is statistically insignificant
• C)when you do not have any information as to which regressors are endogenous
• D)when you want to estimate RE on a long,narrow data set

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Definitions:

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded, leading to a stable market condition.

Fine

A monetary charge imposed on individuals or entities as penalty for not complying with laws, rules, or regulations, distinct from a "fine imposed" which refers to the act of levying the fine.

Marginal Cost

The escalation in aggregate cost resulting from the production of an additional unit of a product or service.

Marijuana

A mind-altering substance derived from the Cannabis plant, utilized for either medicinal or leisurely activities.