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Panel Data for Banking Sector Analysts

10% early bird discount until 11 December 2018

Registration deadline: 11 February 2019

 
  • General description

    The course will cover the basics of panel data analysis and some more advanced extensions, focusing mainly on microeconometric settings with a large number of cross-sectional observations.

    The common estimators – random effects, fixed effects, and first differencing will be discussed, with emphasis on robust inference and specification tests. Extensions that allow heterogeneous slopes and trends, and instrumental variables methods, will also be covered. Estimation of dynamic models also will be covered. Fixed effects estimation and inference with a large number of time periods, applicable to more aggregated data, will also be treated. The problem of unbalanced panels and how to test for nonrandom sample selection will be covered. If time permits, nonlinear models for binary and nonnegative outcomes will be introduced.

    The statistical package Stata will be used to illustrate all of the methods, including applications to the banking sector.

  • Topics covered

    • Random Effects, Fixed Effects, First Differencing
    • Robust Inference and Robust Specification Tests
    • Instrumental Variables
    • Heterogeneous Trend and Slope Models
    • Dynamic Models
    • Large-T Panels
    • Correlated random effects approaches to panel data
    • Unbalanced panels and detecting sample selection problems
    • Nonlinear Panel Data Models
  • What you will learn

    • You will learn to use Stata to estimate basic linear panel data models by random effects, fixed effects, first differencing, and instrumental variables versions of these.
    • You will learn how to use robust specification tests to choose among estimation methods.
    • You will learn what happens when additional heterogeneity is introduced into the basic model.
    • You will be introduced to large T panel data sets.
    • You will understand the consequences of unbalanced panel data sets.
    • You will understand the tradeoffs between pooled and joint estimation methods for nonlinear models.

  • How the course will work

    Total course length: 12 hours.

    The course will feature lectures (9 hours) as well as tutorial sessions with hands on Stata work, followed by discussion of solutions (6 hours).

    A certificate of attendance will be provided to all participants after the course.

  • Meet the instructor

    Jeffrey Wooldridge is University Distinguished Professor of Economics at Michigan State University. He is a Fellow of the Econometric Society and the Journal of Econometrics. He is the author of two textbooks in econometrics: Introductory Econometrics: A Modern Approach, 6e; and Econometric Analysis of Cross Section and Panel Data, 2e. He has served on several editorial boards, including as editor for the Journal of Business and Economic Statistics as co-editor of Economics Letters. While an assistant professor at MIT, he won the graduate teacher-of-the-year award three times. He has given dozens of econometrics short courses around the world.

  • Prerequisites

    MA degree in business, economics, or statistics. Or, a BA in economics with training in linear algebra and multivariable calculus. A knowledge and understanding of ordinary least squares, generalized least squares, instrumental variables (using matrix algebra), some asymptotic theory is required to follow the course

    Technical Prerequisites

    Participant are required to bring their own laptops with the STATA software installed.

  • Fees

    1750€ – Public Authorities (e.g. National Competent Authorities, Central Banks) and European Institutions

    1900€ – Private Sector

    1000€ – Academics (Assistant, Associate or Full Professors)

    850€ – Students (with certificate of studies)

    The course fee covers coffee and lunch breaks. Travel and hotel costs are not included.


    EARLY BIRD DISCOUNT

    Participants who register before 11 December 2018 will benefit from a 10% reduction of the course fees.

    The early bird discount cannot be combined with group deals.


    GROUP DEALS

    • In case of registration of 3 participants from the same organisation, the course fee is waived for one of them.
      To benefit from the deal, the names of the 3 participants have to be communicated to fbf@eui.eu before registering. We cannot communicate the names of other registered people from the same institution (it is upon your responsibility to get in touch with your HR division). A single debit note will be issued for the 3 participants followed by one payment.
    • Special deals apply for larger groups.

    CANCELLATION POLICY

    • In case a course is cancelled, registered participants will receive the full refund.
    • In case a course is moved to another date, registered participants may request a voucher to attend another FBF course.
    • Registered participants who cancel their participation will receive a voucher to attend another FBF course.

    For more details, please contact fbf@eui.eu
  • Practical information

    Recommended hotels

    Suggested restaurants in Florence city centre

    Wi-Fi

    On arrival, participants will be provided with temporary wi-fi access for the whole duration of the course.

    Privacy Notice

    The personal information you have provided will be processed in compliance with the EUI Privacy Statement for conferences. For general queries: fbf@eui.eu

     

    General information on local transport

    From Florence airport:

    Florence airport is located 8 km from the city centre, approximately 30 minutes by taxi or bus. Taxis can be found outside the arrivals terminal; no reservation is needed. A taxi ride from the airport costs about €20 and takes approximately 25/30 minutes.

    The airport is also connected to the main railway station in Florence by a shuttle bus (‘Vola in bus’) that leaves every 30 minutes (on the hour and on the half-hour) and takes 25 minutes. Tickets are available on board for €6.00.

    From the central railway station:

    Take bus n. 17 to via Venezia. Change to bus n. 7 direction ‘Fiesole’; get off at the stop ‘San Domenico 01’.  For bus routes and timetables consult:  http://goo.gl/Ydj8K

    Bus tickets are sold outside the railway station, at ATAF ticket kiosks and vending machines, tobacconists (tabacchi), newspaper kiosks (edicole), and most cafes (bar). They must be bought before boarding and stamped using the machine on the bus. A ticket costs €1.50 and it is valid for 90 minutes. Bus tickets can be purchased also on board (€ 2.50), but the driver is not obliged to give change.

    Private car

    From the A1 Milano-Napoli (Autostrada del Sole), take the Firenze Sud exit and follow directions to the city centre/Stadio. Follow the directions to the stadium (Stadio), then for Fiesole. San Domenico is on the main road to Fiesole.

    The EUI has several free parking areas available all over the Campus.