. Specifically, we interpret the Average Treatment Effect (ATE) derived from panel data fixed-effects models as capturing marginal …

LDV is known to be of order 1/T, we show that the Nickell-type bias in the estimator of the treatment effect is of order 1 … (LDV). However, when the DGP is characterized by both features simultaneously, we find that bracketing of the treatment … effect only holds under certain conditions – but not in general. Practitioners can nevertheless obtain the lower bound …