OLS on Panel data is random effect?

[giotira]

Hi to all,

a really technical question. I have an unbalanced panel data set, defined as panel data on Eviews.
When I am running quick\equation\LS am I doing a random effect estimation on the data set? if not what am I doing then? moreover how can I do a random effect estimation?

many thanks

[EViews Gareth]

There is an option on the Panel Options part of the estimate dialog that lets you specify random effects.

[giotira]

So If I am not specyfing it, Eviews is simply using an OLS estimation on the whole sample, that is it does not consider the data as a panel date and every observation is a different event. is this right?

[EViews Gareth]

Essentially.

[giotira]

What is then the difference with a GLS?
simply the autoregressive component on the residuals?

[EViews Glenn]

Not sure I understand the question. The OLS on the stacked panel is just that. The only thing about the panel that is relevant is lag handling.