The no-pooling peer of re: identical formula grammar, but unit
effects get flat independent priors instead of a hierarchical prior
(Gelman-Hill: "FE = RE with infinite variance"). fe(1) gives classic
unit dummies; fe(1 + x) additionally gives unit-specific slopes.
The first unit is the reference category (its effects are fixed to 0), so
fe() remains identified alongside a global intercept and global
slopes.