I was using a fixed-effects panel model with interaction effects when I realized that the VIF values are too high for some variables. I was advised to standardize the predictor variables to mitigate multi-collinearity. My question is that can I standardize just 1 predictor variable or must I standardize all predictor variables?
If so, are there any academic sources/literature that I could refer to for this matter?
Thanks so much in advance.
If so, are there any academic sources/literature that I could refer to for this matter?
Thanks so much in advance.