I would give a better answer to this question if I was familiar with 3J's knowledge of economics, econometrics, statistics, mathematics, and computing.  He should probably start with an introductory econometrics book that contains a good introduction to econometrics.  Wooldridge (2019), Introductory econometrics, Centage, would be a good start.  If that does not meet his needs he could move on to Wooldridge (2010), Econometric analysis of cross section and panel data, MIT.   He might also be interested in Baltagi (2021) econometric analysis of panel data, Springer and Baltagi (2009) A companion to econometric analysis of panel data, Wiley.  


John C Frain
3 Aranleigh Park


On Sun, 23 Jan 2022 at 15:45, 3J LEMA <3jlema@gmail.com> wrote:
I have read a blog stating that if there is  heterogeneity in the panel data the appropriate model is either the Fixed Effect or Random Effects model, not the OLS Regression.  Do you agree with the blogger? 

I'm interested to know to determine the appropriate panel regression model when there are autocorrelations, heterogeneity, multicollinearity, and non-normality. Appreciate if you suggest a textbook that deals with the OLS, FE, and RE models for panel data.

Thank you.

Lema
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