Eviews Forecast

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EVIEWS DEMONSTRATION

This demonstration illustrates the basic features of EViews. It represents a typical application, and is not meant to be a comprehensive description of the capabilities of the program.

In this demonstration, we examine the relationship between the dependent variable, aggregate money demand (M1), and the independent variables, income (GDP), the price level (PR), and short term interest rates (RS).
The sample forecasting project takes us through the following steps:

1. importing data into EViews from an Excel spreadsheet
2. examining the data and performing simple statistical analysis
3. using regression analysis to model and forecast a statistical relationship
4. performing specification and hypothesis testing
5. plotting results

Creating a Workfile and Importing Data

The first step in the project is to read the data into an EViews workfile.

Before we describe the process of importing data, note that the demonstration data have been included in your EViews directory in both Excel spreadsheet and EViews workfile formats. If you wish to skip the discussion of importing data and go directly to the analysis part of the demonstration, you may load these data by selecting File/Open/Workfile… and opening the workfile DEMO.WF1.

To create a workfile to hold your data, select File/New/Workfile…, which opens a dialog box where you will provide information about your data. For our example, quarterly data are observed from the first quarter of 1952 to the end of 1996. You should set the workfile frequency to quarterly, and specify the start date 1952:1, and the end date 1996:4.
Once you have filled out the dialog, click on the OK button. EViews will create an untitled workfile, and will display the workfile window. The workfile window is described in detail in Workfile Basics, The Workfile Window. For now, notice that the workfile window displays two pairs of dates: one for the range of dates contained in the workfile, and the

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