RECOMMENDATION TO RESEARCHERS: DO NOT use the example formula in the Stata manual shown for computing the grand mean with -xtreg, fe- . For a correct formula, see the link below.
Several days ago, one of our IQSS Data Scientists tried to replicate results from -xtreg, fe- by re-implementing the command using the formula shown in Stata 15's manual entry for -xtreg, fe-. It failed:...
Read more about Stata 15 Advisory UPDATE: xtreg, fe may not be doing what you expect