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This video explains fixed effects models and panel data analysis. By the end of the video, you should be able to identify the appropriate panel data analysis method for a given question. It covers three methods for estimating a fixed effect model and interpreting the results. Using a model to investigate the effect of marriage on men's earnings, the video shows that married men earn 25% more than unmarried men. It raises a concern about using OLS with panel data and highlights the importance of considering the panel nature of the dataset.