Applications of Econometrics |
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Page 30
... residual , the composite ( ε , λ8 , -1 ) , involves residuals from two consecutive periods and therefore introduces serial correlation ( over and above the serial correlation that may be present in the original e's ) . † Further , the ...
... residual , the composite ( ε , λ8 , -1 ) , involves residuals from two consecutive periods and therefore introduces serial correlation ( over and above the serial correlation that may be present in the original e's ) . † Further , the ...
Page 80
... residual will be √ [ X / b ( 1 - Xib ) ] Var ( εi ) and so the variance of this new residual will be = X / ẞ ( 1 Xib ( 1 - - X ( B ) Xib ) ' Xib ( 1 - Xib ) ' ~ 1 if we consider b to be a good estimate of ẞ ( it will be an unbiased ...
... residual will be √ [ X / b ( 1 - Xib ) ] Var ( εi ) and so the variance of this new residual will be = X / ẞ ( 1 Xib ( 1 - - X ( B ) Xib ) ' Xib ( 1 - Xib ) ' ~ 1 if we consider b to be a good estimate of ẞ ( it will be an unbiased ...
Page 121
Julia Hebden. tion of the residual V , which in terms of the original residual u , is : V = - 1 r log u . But much more will be heard of this residual later . Model A assumes that we have data on p1 , † the ' price ' of capital ...
Julia Hebden. tion of the residual V , which in terms of the original residual u , is : V = - 1 r log u . But much more will be heard of this residual later . Model A assumes that we have data on p1 , † the ' price ' of capital ...
Contents
ECONOMETRIC MODELS | 1 |
Specification Errors in Multiple Regression | 18 |
DISTRIBUTED LAGS | 26 |
Copyright | |
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actual adaptive expectations aggregate agriculture algebraic assume average B₁ B₂ behaviour bias bullocks capital CD function Chapter Cobb-Douglas coefficients column constant constraint consumption function cost crop demand equation demand function dependent variable distributed lag econometric econometrician effect elasticity endogenous equilibrium exogenous explanatory variable F-ratio factor final demand firms forecast Griliches Hines hypothesis incomes policy industry inflation influence input-output input-output model inputs intercept isoquant labour linear marginal measure multicollinearity Nerlove non-significant OLS estimates output over-identified P₁ parameters partial adjustment period Phillips curve price-changes production function proxy rate of change ratio regression regressors relationship residual returns to scale sample serial correlation significant statistical structural Student's t-test substitution supply equation Table technical progress tion trades union trend Turnovsky unemployment units variance vector w₁ wage-changes wage-rates wages X₁ βι