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Give at least three examples from macroeconomics and five from microeconomics that involve specified equations in a panel data analysis framework. Indicate in each case what the role of the entity and time fixed effects in terms of omitted variables might be.
Superior Status
Refers to having a higher rank or position compared to others in a social or organizational hierarchy.
Interaction
The reciprocal action or influence between two or more entities, objects, or individuals, often resulting in a change or effect.
Social Play
Refers to the activities where children interact and communicate with each other, developing social skills in the process.
Peers
Children who share the same age or maturity level.
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