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The second result is telling you that the estimator of the random effects gives you results which indicate that there are no random effects (the variance is zero). The first result indicates that the Hausman test is obtaining an invalid variance, probably because of small sample issues. It's hard t...

Hello, Since it's normal to get a negative r-squared, or adjusted r-squared using 2sls, what should I look at to see whether it's a good model? BTW, most of my variables are significant and have nice p-value. The attachment is part of the report. Also, How should I interpret the negativity of the ad...

Hello, I use 2sls to estimate coefficients for 2 equations. After running 2sls with random effect, I did hausman test to see whether random effect is appropriate for each equation. However, based on the result, it shows that it's proper to use fixed effect in equation 1, while random effect in equat...