Question: 3. Suppose you have an unbalanced panel. That is, for each individual data for Ti periods is available. (a) Describe how the posterior simulators for

3. Suppose you have an unbalanced panel. That is, for each individual data for Ti periods is available.

(a) Describe how the posterior simulators for the individual effects models

(see Section 7.3.3) would be altered by the unbalanced panel.

(b) Describe how the posterior simulators for the random coefficients model

(see Section 7.4.3) would be altered by the unbalanced panel.

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