Given a 1 year (2019-2020) panel data set with around 3650 observations I have faced some issues when setting up the data in Stata. My intention is to see if the pandemic resulted in any effects on the bank-lending levels to greener vs browner sectors.
The data looks like this in Excel for one bank, in one country, during one year:
Variables: gca is the volume of loans, nace is the classified industry, em are the carbon intensities per industry.
After creating bankid's sorting the data as
sort bankid year in Stata I wanted to declare the data set as a panel with the command
xtset bankid year. When doing so I get the error code r(451), namely
"repeated time values within panel"
After doing some research about this error code I realize that I have maybe done the set up all wrong. This is because for all the examples I have been given there are at least three years or more per idvariable, however in this situation I have repeated time values per bank.
This leads me to my initial question if I should set this kind of data set up as a panel or if it should be viewed as cross-sectional data set as it is only year availability in terms of data.
Would really appreciate your help on this and if any clarifications should be done please let me know.