A NEW PANEL DATA TREATMENT FOR HETEROGENEITY IN TIME TRENDS
面板数据中时间趋势异质性的新估计方法
This paper introduces a new estimation method for arbitrary temporal heterogeneity in panel data models. The paper provides a semiparametric method for estimating general patterns of cross-sectional specific time trends. The methods proposed in the paper are related to principal component analysis and estimate the time-varying trend effects using a small number of common functions calculated from the data. An important application for the new estimator is in the estimation…