Terms in this set (13)
Cross-Sectional Data Set
A data set collected by sampling a population at a given point in time.
The interval at which time series data are collected. Yearly, quarterly, and monthly are the most common data frequencies.
An equation relating the dependent variable to a set of explanatory variables and unobserved disturbances, where unknown population parameters determine the ceteris paribus effect of each explanatory variable.
A relationship derived from economic theory or less formal economic reasoning.
A study that uses data in a formal econometric analysis to test a theory, estimate a relationship, or determine the effectiveness of a policy.
Data that have been obtained by running a controlled experiment.
Data that have not been obtained through a controlled experiment.
See nonexperimental data.
A data set constructed from repeated cross sections over time. With a balanced panel, the same units appear in each time period. With an unbalanced panel, some units do not appear in each time period, often due to attrition.
Pooled Cross Section
A data configuration where independent cross sections, usually collected at different points in time, are combined to produce a single data set.
A sampling scheme whereby each observation is drawn at random from the population. In particular, no unit is more likely to be selected than any other unit, and each draw is independent of all other draws.
Data collected based on past, rather than current, information.
Time Series Data
Data collected over time on one or more variables.