เปรียบเทียบวิธี

	PANIC Test: การวิเคราะห์รากหน่วยของอนุกรมเวลาแบบพาเนลโดยมีการแยกตัวประกอบร่วม	แบบจำลองปัจจัยพลวัต
สาขาวิชา	เศรษฐมิติ	เศรษฐมิติ
ตระกูล	Hypothesis test	Regression model
ปีกำเนิด	2004	2002
ผู้ริเริ่ม	Jushan Bai & Serena Ng	James Stock & Mark Watson
ประเภท	Panel unit root test	Latent-factor time-series model
แหล่งต้นตำรับ	Bai, J., & Ng, S. (2004). A PANIC attack on unit roots and cointegration. Econometrica, 72(4), 1127–1177.	Stock, J. H., & Watson, M. W. (2002). Macroeconomic forecasting using diffusion indexes. Journal of Business & Economic Statistics, 20(2), 147–162.
ชื่อเรียกอื่น	Panel Analysis of Non-stationarity in Idiosyncratic and Common Components, Bai-Ng PANIC Test, Second-Generation Panel Unit Root Test, Panel Birim Kök Testi (PANIC)	Diffusion Index Model, Large-Scale Factor Model, Approximate Factor Model, Dinamik Faktör Modeli
ที่เกี่ยวข้อง	3	2
สรุป	PANIC (Panel Analysis of Non-stationarity in Idiosyncratic and Common Components) is a second-generation panel unit root test introduced by Bai and Ng (2004). It decomposes each panel series into common factors and idiosyncratic components, then tests for unit roots in each part separately, making it robust to cross-sectional dependence — a critical limitation of first-generation tests such as IPS or LLC.	A Dynamic Factor Model (DFM) extracts a small number of latent common factors from a large panel of economic time series and uses those factors to forecast or nowcast a target variable. Formalized for macroeconomic forecasting by James Stock and Mark Watson in their 2002 Journal of Business & Economic Statistics paper, DFMs handle hundreds of indicators simultaneously while avoiding the curse of dimensionality that plagues traditional multivariate models.