ökonometrie at Humboldt-Universität Zu Berlin

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Functional Form and Time Series

functional forms as discussed in MLR work as before
dummy variables work as before

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Directed Acrylic Graph (DAG)

complete set off all causal relationships in a graph with arrows
help explain OMV, reverse causality and conditioning on colliders
arrows represent direct effect

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Reporting Regression Results

coefficient estimates
corresponding standard errors
number of observations
R-squared

Single equation: Equation Form

Different specifications: Table

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Learning-Assistant with spaced repetition algorithm

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Hypothesis testing Dummy Variables

same as usual
perform hypothesis test on coefficients of dummy variables

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Panel/Longitudinal Data

consists of time series for each cross sectional data in the set

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Dummy Variable Trap

if the regression model is to have j intercepts for j different groups w need to include j-1 dummy vars.
otherwise violation of MLR.3
base group: overall intercept of model
dummy variable coefficients: differences in intercepts between this group and base group

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Multiplying y or x by a constant

if y is multiplied by c then intercept and slope estimate are multiplied by c
if x is multiplied by c then slope is divided by c
if y+m intercept changes by m
if m is added to x the intercept changes by m*β1, slope does not change

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Difference Between errors (u)and residuals (u hat)

errors occur in poulation and are never actually observed
residuals occur in our model and are computed from the data

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Ceteris Paribus

All other factors fixed

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What is the Relationship between SST,SSE and SSR?

SST = SSE + SSR

total Variation is the sum of the explained and unexplained variation

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Cross Sectional Data

consists of random sample taken at a given time
order of data irrelevant

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OLS Regression Line

once we have OLS Estimators we form OLS regression line
estimated version of population regression function
we now have a predicted value for y for each value of x (fitted value)

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ökonometrie at Humboldt-Universität zu Berlin

Flashcards and summaries for ökonometrie at the Humboldt-Universität zu Berlin

Study with flashcards and summaries for the course ökonometrie at the Humboldt-Universität zu Berlin

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