Econometric Analysis of Panel Data Applied to Household Characteristics

Panel data are specific data where cases are observed at two or more time periods. This approach brings many advantages: larger dataset, decreasing collinearity between exogenous variables and using advanced econometric models. The panel data models were applied to data from the Household Budget Surveys 2000-2004 carried out by the Czech Statistical Office in order to analyze choice behavior of households. The data on households included demographic characteristics of individuals, housing, household amenities, net income, and opinions of households about their own socioeconomic situation. We analyzed the role of income as a determinant of PC ownership and its development through the observed period by using three static econometric models with panel data.