Dynamic Models for Dynamic Theories: The Ins and Outs of Lagged Dependent Variables
Abstract
A lagged dependent variable in an OLS regression is often used as a means of capturing dynamic effects in political processes and as a method for ridding the model of autocorrelation. But recent work contends that the lagged dependent variable specification is too problematic for use in most situations. More specifically, if residual autocorrelation is present, the lagged dependent variable causes the coefficients for explanatory variables to be...
Paper Details
Title
Dynamic Models for Dynamic Theories: The Ins and Outs of Lagged Dependent Variables
Published Date
Jan 1, 2006
Journal
Volume
14
Issue
2
Pages
186 - 205
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