Building and Analyzing Panel Data Models

This article is devoted to the theoretical and practical aspects of building and analyzing panel data models. Panel data, combining the advantages of cross-sectional and time series data, plays an important role in identifying dynamic relationships between variables. The article examines in detail the main models, such as fixed effects and random effects, their estimation methods, and the criteria for selecting models. The methodology for model diagnostics and interpretation of the obtained results is also discussed. The presented approaches serve as a solid basis for research in economic, social, and other fields.