Dear Sven and Allin
Many thanks for your fast response.
José

Enviado desde mi iPhone

> El 20 ene 2021, a las 23:10, Allin Cottrell <cottrell@wfu.edu> escribió:
>
> On Wed, 20 Jan 2021, JOSE FRANCISCO PERLES RIBES wrote:
>
>> Dear Sven:
>> Please, find attached the .xlsx dataset for replication purposes.
>> As far I know, there are not missing values in this dataset.
>> Many thanks again.
>
> I tried this with gretl vs stata's xtabond2. (By way of data check, I got the same results as you report from gretl.)
>
> xtabond2 found 45 instruments and produced parameter estimates that differed widely from both gretl and the results you report from xtdpdsys. I also tried with Ox/DPD and got the error message "not enough observations in sample".
>
> In the file replication.xlsx, all series except Afiliados and Dens
> (and of course Year) are non-time varying.
>
> Bottom line: seems like this is a pretty dodgy specification.
>
> Allin
>
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