Zhang, Yonghui; Zhou, Qiankun - In: Essays in honor of Cheng Hsiao, (pp. 1-24). 2020
It is shown in the literature that the Arellano–Bond type generalized method of moments (GMM) of dynamic panel models is asymptotically biased (e.g., Hsiao & Zhang, 2015; Hsiao & Zhou, 2017). To correct the asymptotical bias of Arellano–Bond GMM, the authors suggest to use the jackknife...
