FE regression with panel data

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FE regression with panel data

Dear all R-users,
I want to set up the following model with R:


I used the plm-package because I have panel data.

FE <- plm(log(revenue) ~ log(No of machines)+log(unemployed people)+log(population), data=R_Test, model="within", effect = "twoways")

(X')_it*γ should summarize the control variables “unemployed people” and “population.” δ_i should display the individual fixed effects and τ_t the time fixed effects.
I am not sure if my used formula best fits for the underlying model. Especially I have doubts that I took the control variables into account correctly.
Can you may help me ?:)

Thanks & regards,