Can't you simply use lagged variables?
Nicola
At 02.33 04/09/2007 -0400, you wrote:
>Nicola said
>
>(can you move to some panel methods which don't need instruments,
>like fixed effects or -xtabond-?)
>
>
>The Arellano-Bond estimator and variants thereof are instrumental
>variables estimators, and you must specify the instruments to run -
>xtabond-, -xtabond2-, xtdpdsys- etc.
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