. xtabond2 cred_prom L.cred_prom T desempleo liva siga sucursal, noleveleq gmm(L.cred_prom) iv(T desempleo liva siga sucursal)
Favoring speed over space. To switch, type or click on mata: mata set matafavor space, perm.
Warning: Number of instruments may be large relative to number of observations.
Dynamic panel-data estimation, one-step difference GMM
Group variable: id
Time variable : edate
Number of instruments = 229
Wald chi2(6) =
2.39
Prob > chi2
=
0.881
Number of obs
Number of groups
Obs per group: min
avg
max
Std. Err.
z
P>|z|
=
=
=
=
=
286
11
26
26.00
26
cred_promedio
Coef.
[95% Conf. Interval]
cred_promedio
L1.
.0179243
.0594901
0.30
0.763
-.0986742
.1345228
T
desempleo
liva
siga
sucursal
-680.3002
96049.88
-13496.18
352.7603
11211.75
8383.466
152029.1
14816.14
675.8667
13643.47
-0.08
0.63
-0.91
0.52
0.82
0.935
0.528
0.362
0.602
0.411
-17111.59
-201921.7
-42535.28
-971.9141
-15528.97
15750.99
394021.4
15542.92
1677.435
37952.46
Instruments for first differences equation
Standard
D.(T desempleo liva siga sucursal)
GMM-type (missing=0, separate instruments for each period unless collapsed)
L(1/.).L.cred_promedio
Arellano-Bond test for AR(1) in first differences: z = -11.72
Arellano-Bond test for AR(2) in first differences: z =
0.04
Pr > z =
Pr > z =
0.000
0.965
Prob > chi2 =
0.007
Difference-in-Sargan tests of exogeneity of instrument subsets:
iv(T desempleo liva siga sucursal)
Sargan test excluding group:
chi2(218) = 272.75 Prob > chi2 =
Difference (null H = exogenous): chi2(5)
=
5.55 Prob > chi2 =
0.007
0.353
Sargan test of overid. restrictions: chi2(223) = 278.30
(Not robust, but not weakened by many instruments.)
. outreg2 using cred_prom, see word title("Variable dependiente: desembolsos por operaciones de crédito") ctitle(A-B)
. xtabond2 desembolsos L.desembolsos T sucursal desempleo liva siga, noleveleq gmm(L.desembolsos) iv(T sucursal desempleo liva siga
> )
Favoring speed over space. To switch, type or click on mata: mata set matafavor space, perm.
T dropped due to collinearity
sucursal dropped due to collinearity
desempleo dropped due to collinearity
liva dropped due to collinearity
Warning: Number of instruments may be large relative to number of observations.
Dynamic panel-data estimation, one-step difference GMM
Group variable: id
Time variable : edate
Number of instruments = 229
Wald chi2(2) =
32.99
Prob > chi2
=
0.000
Number of obs
Number of groups
Obs per group: min
avg
max
Std. Err.
z
P>|z|
=
=
=
=
=
286
11
26
26.00
26
desembolsos
Coef.
[95% Conf. Interval]
desembolsos
L1.
.293236
.0560878
5.23
0.000
.183306
.403166
siga
20728.45
10648.17
1.95
0.052
-141.5823
41598.48
Instruments for first differences equation
Standard
D.(T sucursal desempleo liva siga)
GMM-type (missing=0, separate instruments for each period unless collapsed)
L(1/.).L.desembolsos
Arellano-Bond test for AR(1) in first differences: z =
Arellano-Bond test for AR(2) in first differences: z =
Sargan test of overid. restrictions: chi2(227) = 287.71
(Not robust, but not weakened by many instruments.)
-8.81
-1.21
Pr > z =
Pr > z =
0.000
0.227
Prob > chi2 =
0.004
Difference-in-Sargan tests of exogeneity of instrument subsets:
gmm(L.desembolsos, lag(1 .))
Sargan test excluding group:
chi2(3)
=
1.31 Prob >
Difference (null H = exogenous): chi2(224) = 286.40 Prob >
iv(T sucursal desempleo liva siga)
Sargan test excluding group:
chi2(222) = 286.67 Prob >
Difference (null H = exogenous): chi2(5)
=
1.03 Prob >
chi2 =
chi2 =
0.727
0.003
chi2 =
chi2 =
0.002
0.960
0
