Question: Task 4: Please estimate a panel data model with two-way fixed group effects (both with farm fixed effects and year fixed effects), with logmilk as

Task 4:

Please estimate a panel data model with two-way fixed group effects (both with farm fixed effects and year fixed effects), with logmilk as the dependent variable, and logcows logland, loglabor, logfeed as independent variables.

Please interpret the coefficients on logcows (hint: 1% change in the number of cows leads to ).

Please interpret the coefficient on the first time fixed effect dummy, and the coefficient on the fifteenth farm fixed effect dummy. (hint: compared to the xxx farm/xxx year, the xxx farm/xxx year )

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