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In biostatistics, fixed-effects may mean population-average effects. In econometrics, fixed-effects may represent the observed quantities in terms of explanatory variables that are treated as if the quantities were non-random.

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How to Remove Fixed Effects to Reduce Heterogeneity?

Regarding the meaning, on the same slide 36, they claim an assumption: "Common identifying assumption: Parameter values are constant across all firms and years within the sample." Because of this as …
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