Introductory Econometrics: A Modern ApproachThe modern approach of this text recognizes that econometrics has moved from a specialized mathematical description of economics to an applied interpretation based on empirical research techniques. It bridges the gap between the mechanics of econometrics and modern applications of econometrics by employing a systematic approach motivated by the major problems facing applied researchers today. Throughout the text, the emphasis on examples gives a concrete reality to economic relationships and allows treatment of interesting policy questions in a realistic and accessible framework. |
Contents
The Nature of Econometrics and Economic Data | 1 |
Chapter | 3 |
REGRESSION ANALYSIS WITH CROSSSECTIONAL DATA | 21 |
Copyright | |
39 other sections not shown
Other editions - View all
Common terms and phrases
2SLS assume asymptotic average B₁ B₁x B₂ bias binary ceteris paribus Chapter coefficient compute confidence interval cross-sectional data set denote dependent differencing dummy variable E(YX econometric economic endogenous equation error term esti example expected value exper explain explanatory variables F statistic factors fitted values fixed effects forecast function Gauss-Markov assumptions heteroskedasticity heteroskedasticity-robust homoskedasticity hourly wage important income increase independent variables instrumental variables intercept interpretation log(wage mean measure multiple regression normally distributed null hypothesis observations obtain OLS estimators omitted variables p-value panel data parameters partial effect percentage population predicted probability problem R-squared random sample random variable regression analysis regression model restrictions return to education salary Section serial correlation simple regression slope squared residuals standard errors statistically significant sum of squared Suppose tion Tobit Tobit model trend u₁ uncorrelated unit root usual OLS variance x₁ y₁ zero