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This function computes R squared or adjusted R squared for plm objects. It allows to define on which transformation of the data the (adjusted) R squared is to be computed and which method for calculation is used.
r.squared(object, model = NULL, type = c("cor", "rss", "ess"), dfcor = FALSE)A numerical value. The R squared or adjusted R squared of the model estimated on the transformed data, e. g., for the within model the so called "within R squared".
an object of class "plm",
on which transformation of the data the R-squared is to be
computed. If NULL, the transformation used to estimate the model is
also used for the computation of R squared,
indicates method which is used to compute R squared. One of
"rss" (residual sum of squares),
"ess" (explained sum of
squares), or
"cor" (coefficient of correlation between the fitted
values and the response),
if TRUE, the adjusted R squared is computed.
plm() for estimation of various models;
summary.plm() which makes use of r.squared.
data("Grunfeld", package = "plm")
p <- plm(inv ~ value + capital, data = Grunfeld, model = "pooling")
r.squared(p)
r.squared(p, dfcor = TRUE)
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