Types of data
All empirical analysis requires data. We will now discuss a few
different structures of data that you may come across if you do
empirical analysis in economics:
1. Cross-sectional data
2. Time series data
3. Pooled cross sections
4. Panel (or longitudinal) data
, Cross-sectional data
Type of data collected by observing many subjects (such as
individuals, firms, countries, or regions) at the one point or
period of time.
Cross sectional is a data which is collected from all the
participants at the same time.
Time series data
Data set consists of observations on one or several variables over time.
A key feature of time series data that makes them more difficult to analyze
than cross-sectional data is that observations are unlikely to be
independent over time.
Special methodological problems arise when we analyze time series data.
All empirical analysis requires data. We will now discuss a few
different structures of data that you may come across if you do
empirical analysis in economics:
1. Cross-sectional data
2. Time series data
3. Pooled cross sections
4. Panel (or longitudinal) data
, Cross-sectional data
Type of data collected by observing many subjects (such as
individuals, firms, countries, or regions) at the one point or
period of time.
Cross sectional is a data which is collected from all the
participants at the same time.
Time series data
Data set consists of observations on one or several variables over time.
A key feature of time series data that makes them more difficult to analyze
than cross-sectional data is that observations are unlikely to be
independent over time.
Special methodological problems arise when we analyze time series data.
