within the specified areas. It must be noted at this point‚ that the true population in any given situation is never really known. As such samples are usually collected and estimated using econometric methods. The results are then used to infer or make judgments about the true population. Basically‚ econometrics is based on economic theory‚ mathematical economics and statistics. Where the relationships among variables are measured using numerical values and estimates are then interpreted. This
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Developments in the study of cointegrated economic variables. Oxford Bulletin of Economics and Statistics 48: 213-228. Gultekin‚ G. H. (1983)‚ Internationally diversified portfolios: Welfare gains and capital flows. Halicioglue‚ D. F. (2007)‚ Econometric modeling with cointegrated variables: An overview. Hamao‚ Y.‚ (1988)‚ An empirical examination of the arbitrage pricing theory: using Japanese data‚ Japan and the World Economy‚ vol 1‚ pp.45-61 Johansen S Vector Autoregressive Models”‚ Econometrica
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Models Introduction The Simple Regression Model The Multiple Linear Regression Models Violations of the Assumptions of CLRMs Definition • Econometrics is the application of statistical‚ and mathematical techniques to the analysis of economic data with a purpose of verifying or refuting economic theories. Theory Mathematical Model Econometric Model As income increases‚ consumption also increases‚ but not as much as income. yi = f ( xi ) = β0 + β1xi y i = f ( x i ) = β0 + β1x i +
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ECONOMETRICS: PS5 PROBLEM SET 5: ESTIMATION PROBLEMS 1 We have the following variables: Y: Food expenditure in USA. X: Family income. P: Price index. Two different regressions are estimated with the following estimation results (standard errors are in brackets): Coefficient for Regression X Y/P Y / X; P 0.112 (0.003) Coefficient for P 2.462 (0.407) -0.739 (0.114) Determination coefficient 0.614 0.978 Assuming that the true equation for Y includes both X and
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2013/3/31 Introduction: The Nature and Purpose of Econometrics Continuous and Discrete Data What is Econometrics? Literal meaning is “measurement in economics”. Definition of financial econometrics: The application of statistical and mathematical techniques to problems in finance and accounting. Continuous data can take on any value and are not confined to take specific numbers. Discrete data can only take on certain values‚ which are usually integers Types of Data Dummy
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Market Structure Conduct Performance (SCP) Hypothesis Revisited using Stochastic Frontier Efficiency Analysis Seanicaa Edwards 204 Lloyd-Ricks‚ West Wing Dept of Agricultural Economics MSU‚ Mississippi State‚ MS-39762 Phone: (662) 325 7984; Fax: (662) 325 8777 E-mail: see3@.msstate.edu Albert J. Allen 215 G Lloyd-Ricks‚ West Wing Dept of Agricultural Economics MSU‚ Mississippi State‚ MS-39762 Phone: (662) 325 2883; Fax: (662) 325 8777 E-mail: allen@agecon.msstate.edu Saleem Shaik 1 215 E Lloyd-Ricks
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Arantza Ugidos. “Gender Wage Discrimination at Quantiles.” Journal of Population Economics‚ 2005. Mats Johansson‚ Katarina Katz‚ Håkan Nyman. “Wage Differentials and Gender Discrimination: Changes in Sweden 1981-98.” Acta Sociologica‚ 2005. Stat. Stata. 2012. http://www.stata.com/meeting/5german/SINNING_stata_presentation.pdf. Tilak‚ Jandhyala B. G. “Education and Labour Market Discrimination.” Indian Journal of Industrial Relations ‚ 1980. Appendix A Selectivity Bias Logit Regression Results: LFS
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Department of Agriculture‚ 2008. Washington‚ DC. Enders‚ W. Applied Econometric Time Series. New York‚ NY: John Wiley & Sons‚ Inc.‚ 1995. tion‚ and Testing.’’ Econometrica 55(1987): 251–76. American Journal of Agricultural Economics 68(1986):344–48. Statistics 48(1986):201–12. Rao‚ ed. New York‚ NY: St. Martin’s Press‚ 1994. Prices.’’ Choices (New York‚ N.Y.) 24‚1(2009): 6–11. Analysis of the PPP and UIP for the UK.’’ Journal of Econometrics 53(1992):211–44. ‘‘Numerical Distribution Functions of Likelihood
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not work in a week‚ is 3586.38 minutes . However‚ each minute that a person works per week‚ reduces sleeping in 0.15 minutes per week. 2. a) - average salary = 865.86 - average tenure = 7.95 b) 5 CEOs are in the first year as CEO c) shown in stata d) ln(SALARY) = 6.51 + 0.0097*CEOTEN e) Every additional year of a person as a CEO position improves the salary 0.97%. 3. a) b) reg sprice livarea c) SPRICE = -30069.2 + 9171.711*LIVAREA d) The estimate of B1 is -30069.2. Does not have
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York University Faculty of Liberal Arts & Professional Studies Department of Economics Fall 2014 Course Outline Course # and Title: AP/ECON 4140 3.0A Financial Econometrics Course Webpage: http://www.yorku.ca/rsufana/teaching.htm Course Instructor/Contact: Name: Prof. Razvan Sufana Office: VH 1030 Phone: 416-736-2100 Ext. 66065 Office Hours: Tuesday 2 – 3 PM‚ Thursday 2:45 – 3:45 PM Email: rsufana@yorku.ca (Please include course number in subject line) LectureTime
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