Question: (a) Differentiate between the within and between estimators in panel data analysis. (5) (b) Explain the implications of not considering the correlation structure in panel

(a) Differentiate between the within and between estimators in panel data analysis. (5)

(b) Explain the implications of not considering the correlation structure in panel data and how such a situation can be remedied. (5)

(c) With reference to the number of cross-sectional units N and time T dimensions, discuss how these two dimensions impact the choice between Fixed effects model and Random effects model (5)

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