In this article, we examine the usefulness of the bias-corrected first-difference (BCFD) estimator by Chowdhury (1987) from two angles: inference and testing. First, we compare the BCFD estimator with Bun and Carree's (2005) estimator and the GMM estimator in terms of accuracy of inference....

In this paper, we introduce new type of within groups transformations so called the double within groups (DWG) and the long within groups (LWG) transformations. Both transformations eliminate individual effects and heterogeneous deterministic time trends jointly. Asymptotic analysis shows that...