solve the problem of heterogeneity bias. In addition, Antman and McKenzie (2007) mention that
averaging over observations within each cohort can “average out” individual measurement error.
Bundell, Duncan, and Meghir (1998), Pencavel (1998), and Devereux (2007) provide notable
examples of the application of pseudo-panel data analysis to estimation of female labor supply
relations in industrialized countries.