[Gretl-users] Dynamic Panel Question

Dear sir/madam, I have an equation about the Dynamic Panel Model using the GMM System. I do not understand the term "Including equations in levels". Does this mean that the independent variables are without differences and lags? So do I have to add the equations with differences and a delay of each independent variable?? I was confused about it. Could you help me understand this more clearly? Kind regards Nancy Dimitriadou [image: image.png]