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 PART | 1 |
Chapter | 3 |
REGRESSION ANALYSIS WITH CROSSSECTIONAL DATA | 21 |
Copyright | |
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Common terms and phrases
2SLS assume asymptotic average B₁ B₁x B₂ bias ceteris paribus Chapter coefficient compute confidence interval covariance crime critical value data set denote dependent differencing dummy variable econometric economic endogenous equation error term esti example exogenous expected value exper explanatory variables F statistic factors fitted values fixed effects forecast function heteroskedasticity heteroskedasticity-robust homoskedasticity income increase independent variables instrumental variables intercept interpretation least squares linear log(wage matrix mean measure multiple regression normal distribution null hypothesis observations obtain OLS estimators p-value panel data parameters percentage population predicted probability problem properties R-squared random sample random variable regression analysis regression model restrictions salary Section serial correlation series data significance level simple regression squared residuals standard errors statistically significant sum of squared tion Tobit model trend u₁ unbiased estimator uncorrelated unit root variance wage x₁ Y₁ zero σ²