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UNC - ECON - 771
Economics 771Spring 2010David GuilkeyFinal Exam1.Given the following model:Yti X ti i ti2Where t=1,2,T and i=1,2,N. The Xs are non-stocastic and i ~ N (0, ) and i ~ N (0, 2 ) .a. Derive the TN x TN covariance matrix of the disturbance term.b. S
UNC - ECON - 771
Economics 771David GuilkeySpring 2011Final Exam1. We have quarterly data on the yield on the 90 day Treasury for 1970 to 2010.a. Provide an interpretation of the following STATA command and the accompanyinggraph:rate90,lags(20)- 0 .5 0Autocorre l
UNC - ECON - 771
Economics 771David GuilkeySpring 2010Midterm Exam1. Given the following model:yi = 1 xt1 + 2 xt 2 + tWhere both xs are standardized (mean zero and variance 1) and uncorrelated with eachother (orthogonal). Suppose that we do not observe xt 2 . Inste
UNC - ECON - 771
Economics 771David GuilkeySpring 2011Midterm Exam1.Given the following model:Yi1 = Yi 2 + X i + i1Yi 2 = Yi1 + X i + i 2Where all terms are scalars.a.Derive the reduced form equations.b.Suppose thatc. = 0 , show how the method of indirect le
UNC - ECON - 771
Economics 771David GuilkeyDavid_Guilkey@unc.eduSpring 2012Book: A Guide to Modern Econometrics Third Edition (2008). Marno Verbeek.Statistical Package: STATA Version 12 (most work can be done with STATA 11). STATA isavailable in all the computer lab
UNC - ECON - 771
Problem Set 1Due January 27thEconomics 771Prof. David GuilkeyTA. Fernando ChagueSpring 2012Problem 1. Given the following model:Yi=1 + Xi 2 +i(1) Suppose 1 = 0. Derive the OLS estimator for 2 .(2) Suppose that 1 = 4 . Derive the OLS estimator
UNC - ECON - 771
Economics 771David GuilkeySpring 2012Problem Set II1.This problem uses the national data set.a. Calculate an annual rate of growth in employment, population, and the SP500.Estimate a model with growth in employment as a function of these othervari
UNC - ECON - 771
Economics 771David GuilkeySpring 2012Problem Set III1.This problem uses the countries_2009.dta STATA data set. The file containsdata for 50 countries but there are a lot of missing values for literacy rate.Estimate a model with GDP as a function of
UNC - ECON - 771
Economics 771David GuilkeySpring 2012Problem Set IV1. This problem using the tan91_small.dta STATA data set where the following model isspecified:fpmessi Z i i1ideali fpmessi X i i 2The X variables are the age and grade of the mother, access to go
UNC - ECON - 771
Economics 771David GuilkeySpring 2012PROBLEM SET V1. This problem uses the fertility data set. The dependent variable is the binary variable haschildren.The explanatory variables are age, education, married, and rural.a.b.c.d.Estimate the model
UNC - ECON - 870
ECON 870Fall, 2009Homework - 1Due on Sep 11, 2009Saraswata ChaudhuriFernando ChagueReading: Chapters 1 and 2 of Econometrics by Fumio Hayashi.Analytical Exercises: Chapter 1: Problem 4 (pg. 72-74), Problem 6 (pg. 75), Problem 7 (pg. 75-76) Chapte
UNC - ECON - 870
ECON 870Fall, 2009Homework - 3Due on Oct 20, 2009Saraswata ChaudhuriFernando ChagueReading:1. Hansen and Singleton.: Generalized Instrumental Variables Estimation of NonlinearRational Expectations Models, Econometrica, Vol. 50, No. 5 (1982), 12691
UNC - ECON - 870
ECON 870Fall, 2009Homework - 4Due on Nov 16, 2009Saraswata ChaudhuriFernando ChagueReading:Clarida, Gali and Gertler.: MONETARY POLICY RULES AND MACROECONOMIC STABILITY: EVIDENCE AND SOME THEORY, Quarterly Journal of Economics, Vol. 115, No.1 (200
UNC - ECON - 870
ECON 870Fall, 2009Homework - 5Due on Dec 03, 2009Saraswata ChaudhuriFernando ChagueReading:1. Lecture Notes on Weak Instruments2. Gregory, A. W. and M. R. Veall (1985): Formulating Wald Tests of Nonlinear Restrictions,Econometrica, 53, 14651468.
UNC - ECON - 870
Linear Algebra HandoutFernando Chague Econ 870 - Advanced Econometrics Prof. Saraswata Chaudhuri September 11, 2009Abstract In progress.ContentsContents 1 Vector Space 2 Matrices 2.1 Special matrices . . . . . . . 2.2 Individual operations . . . . . 2
UNC - ECON - 870
Econ 870 - Advanced Econometrics - Fall 2009 Prof. Saraswata Chaudhuri T.A. Fernando Chague Recitation #1 Monte Carlo [Hayashi page 81] Monte Carlo analysis1 simulates a large number of samples from the model to study the nite-sample distribution of estim
UNC - ECON - 870
ECON 870 Fall, 2009Solution of the Welcome Quiz August 25, 2009Saraswata Chaudhuri Fernando Chague(1) In this particular linear model with a single regressor, the sucient assumptions to make OLS a BLUE are: (i) Strict exogeneity of x, i.e. E [ui |x1 ,
UNC - ECON - 870
Page 1 of 2ECONAdvancedECON 870: Advanced EconometricsInstructor:Instructor:TA:TA:LectureLecture Times:LectureLecture Location:Saraswata ChaudhuriEmail: saraswata_chaudhuri@unc.eduOffice: Gardner 305 BOffice Hours: Tu 4:00 5:00 and F 3:00 4
UNC - ECON - 870
ECON 870 Fall, 2009Welcome Quiz August 25, 2009Saraswata Chaudhuri Fernando Chague[Total Points = 3+3+3+3+3+5 = 20] Consider i = 1, . . . , n observations (yi , xi ) from the model y = x + u. 1. List the Gauss-Markov assumptions under which the estimat
UNC - ECON - 721
Instructor: Oksana LeukhinaUniversity of NC - Chapel HillAdvanced Macro Theory IIMIDTERM1SolutionQuestion 1 (30 points)a. (5) State the functional equation (FE) formulation of the simple neoclassical growth modelstudied in class.v (k )=max fU (f
UNC - ECON - 721
Professor: Oksana LeukhinaRA: Fernando ChagueUniversity of NC - Chapel HillEcon 721 - Macro TheoryYour Name .ANSWERS to MIDTERM 2This is a closed notes/books exam. Good luck.Question 1 (35 points)Consider the neoclassical growth model with no leis
UNC - ECON - 721
Professor: Oksana LeukhinaUniversity of NC - Chapel HillEcon 720 - Macro TheoryFinal Exam Answers(120 pts)Closed books/closed notes exam. You may use your calculator. Show all your work!Question 1 (20 points)Consider the neoclassical growth model w
UNC - ECON - 721
Econ 721 - Macro II - Spring 2009Prof. Oksana LeukhinaT.A. Fernando ChagueHomework 1 - Solutions1. Consider the following "Edgeworth-box" economy with two commodities (say applesand bananas). There are two households (labeled 1 and 2). The preference
UNC - ECON - 721
Econ 721 - Macro II - Spring 2009Prof. Oksana LeukhinaT.A. Fernando ChagueRecitation 5: Cake Problem1. Consider a cake-eating problem. Suppose you are presented with a cake of size W0 .At each point of time, t = 0; 1; 2; : you can eat some of the cak
UNC - ECON - 721
Econ 721 - Macro II - Spring 2009Prof. Oksana LeukhinaT.A. Fernando ChagueRecitation 6: Matlab and NGM1. Consider the Neoclassical Growth Model. The consumer problem is:max1Xt[ln (ct ) + ln (1ht )]t=01X1Xspt ct + kt+1t=0ss) kt + wt hs
UNC - ECON - 721
Econ 721 - Macro II - Spring 2009Prof. Oksana LeukhinaT.A. Fernando ChagueRecitation 6: Matlab and NGM1. Consider the Neoclassical Growth Model. The consumer problem is:max1Xt[ln (ct ) + ln (1ht )]t=01X1Xspt ct + kt+1t=0ss) kt + wt hs
UNC - ECON - 721
Econ 721 - Macro II - Spring 2009Prof. Oksana LeukhinaT.A. Fernando ChagueRecitation 7: NGM and Welfare Analysis1. Consider the NGM model with taxes on consumption and capital income. AssumeNt = 1 for all t. Also assume that there is no technological
UNC - ECON - 721
Econ 721 - Macro II - Spring 2009Prof. Oksana LeukhinaT.A. Fernando ChagueRecitation 8: Ricardian Equivalence1. Consider the following generation of agents. Each generation t lives for one period, hasendowment et and cares about the next generation,
UNC - ECON - 721
Econ 721 - Macro II - Spring 2009Prof. Oksana LeukhinaT.A. Fernando ChagueRecitation 9: Uncertainty1. An economy consists of two innitely lived consumers named i = 1; 2. There is onenonstorable consumption good. Consumer i consumes cit at time t/. Co
UNC - ECON - 721
Econ 721 - Macro II - Spring 2009Prof. Oksana LeukhinaT.A. Fernando ChagueRecitation 10: Uncertainty II1. Consider a simple one-tree pure exchange economy. The only source of consumption isthe fruit that grows on the tree. This fruit is called divide
UNC - ECON - 721
Econ 721 - Macro II - Spring 2009Prof. Oksana LeukhinaT.A. Fernando ChagueRecitation 11: Simple Model with Uncertainty1. Consider an economy that lasts for only one period. There are two consumers withstochastic endowments of the single consumption g
UNC - ECON - 721
Econ 721 - Macro II - Spring 2009Prof. Oksana LeukhinaT.A. Fernando ChagueRecitation 12: Overlapping Generations Models - SOLUTION1. Consider an overlapping generations endowment economy with a single non-storablegood. Each generation is of measure 1
UNC - ECON - 721
ECON 721Macroeconomic TheoryProfessor: Oksana LeukhinaDepartment of EconomicsUNCSpring 2009Advanced Macroeconomic Theory IILecture:Professor:Office hrs:Recitation:GA:Class Website:Tuesdays and Thursdays, 2 - 3:15, Gardner 307Oksana Leukhina,
UNC - ECON - 720
Econ 720 - Macro I - Fall 2008Prof. Neville FrancisT.A. Fernando ChagueRecitation #3A Dynamic Optimization Problem as an Optimal Control ProblemWe want to solve:maxRT0F (t; y; u) dt subject to y = f (t; y; u) and y (0) = y0_This problem can be
UNC - ECON - 720
Econ 720 - Macro I - Fall 2008Prof. Neville FrancisT.A. Fernando ChagueHomework 1 - Solutions1. Solve the following innite-time horizon consumption model for the optimal consumption path. Assume thatr < 0.maxZ1etcac2 dt0s.t. x = rx_cx0 giv
UNC - ECON - 720
Econ 720 - Macro I - Fall 2008Prof. Neville FrancisT.A. Fernando ChagueLog-Linearization HandoutLog-Linearize the following Euler Equation around steady state:ct+1ct1 = Rt+11. Method 1: Taylor Expansion.(a) Rewrite the variables using the equalit
UNC - ECON - 720
Econ 720 - Macro I - Fall 2008Prof. Neville FrancisT.A. Fernando ChagueRecitation 1: The Solow ModelSolutionsConsider a neoclassical economy1 with the following production function:Yt = Kt (At Lt )1where 2 (0; 1);capital accumulation:_Kt = sYtK
UNC - ECON - 720
Econ 720 - Macro I - Fall 2008Prof. Neville FrancisT.A. Fernando ChagueRecitation 2: IS-LM ModelSolutionsConsider the following IS-LM model:C = a + bY(Consumption)lRI=I(Investment)G=G(Government)L = kY(Money Demand)hR(Money Supply)M =MTh
UNC - ECON - 720
Econ 720 - Macro I - Fall 2008Prof. Neville FrancisT.A. Fernando ChagueRecitation 3: Dynamic Optimization in Continuous TimeSolutions1. Denote the following maximization problem:ZMax V =1u2 dt0s.t. y = y + u_(a) Write down the Hamiltonian and
UNC - ECON - 720
Econ 720 - Macro I - Fall 2008Prof. Neville FrancisT.A. Fernando ChagueRecitation 10: Money in Utility Function Model1. Consider the following MIU (Sidrauski (1967) model. The representative household solves the dynamicprogramming problemV (! t ) =
UNC - ECON - 720
Econ 720 - Macro I - Fall 2008Prof. Neville FrancisT.A. Fernando ChagueRecitation 11: Log-Linearization - Solution1. Consider the CRRA utility functionc1 at1and assume a real interest rate rt and a discount rate . Recall the consumption Euler equa
UNC - ECON - 423
Econ 423 Exercise: A Components Model of Interest Rates Due: October 26, 2006Michael SalemiThere are thousands of debt instruments trading daily in U.S. financial markets. For each instrument, one can compute a yield to maturity. There are thus thousand
UNC - ECON - 423
Economics 185 Notes on Present Value and Internal Rate of Return 1.Michael SalemiAssets such as bonds and stocks are held because they give the owner the right to receive a stream of payments. Examples of Streams of Payments BOND Ct $100 STOCK Dt $50 Ct
UNC - ECON - 400
Economics 400: Professor TurchiExercise No. 2: Entering Data, Prettying Up Graphs, etc.New Stata CommandsOld Commands ReviewedData Editorrenamegraph twoway scatterfile/savecleargsort / sortlistlabel variablegraph set print logo on/offgraph hb
UNC - ECON - 400
Economics 400: Professor TurchiExercise 1: Introduction to StataNew Stata Commandsusedescribesummarizestemgraph boxhistogramlog on, offexitNew Stata CommandsDownloading Data from the WebI recommend that you use Internet Explorer for all web-b
UNC - ECON - 400
Economics 400: Professor TurchiExercise No. 4: Data Management - Part 1New StataCommandsrenamelabel variablelabel datadestringlabel valueslabel definedrophistogram var, start(.)width(.)graph7 var, onewaygenerateegenlistreplaceOld Command
UNC - ECON - 400
Economics 400: Professor TurchiExercise No. 3 : Dropping Variables & Observations, Central LimitTheoremNew StataCommandsbrowsedrop varnamedrop if(condition)savetabulateqnormhistogramover(.)set seedbsOld CommandsRevieweddescribegraph box
UNC - ECON - 400
Economics 400: Professor TurchiExercise No. 5: Credit Status of ConsumersNew StataCommandslabel valueslabel defineOld CommandsReviewedgraph box varnametabulategeneratesorttabstatreplacediscrete optionttestgraph twowayvarnamegraph twoway
UNC - ECON - 400
Hypothesis Testing: PreliminariesThe Course So Far:DescriptiveStatisticsProbabilityDistributionsProbabilityTheorySimple RandomSamplingSamplingDistributionsA hypothesis is a statement that something is true.Null hypothesis: A hypothesis to be
UNC - ECON - 400
Economics 400Components of the Economics 400 CourseAlternative SourcesTextbook"There are three kinds of lies-lies, damnedlies and statistics"Presents TheoryDemonstrateMethodsExampleProblemsPresent TheoryDemonstrateMethodsAlternativeSProf
UNC - ECON - 400
Examination Number:_Last Name_First_Sign the Honor Pledge Below_ PID #__ Write Your Section Number here:_University of North CarolinaEconomics 400: Economic StatisticsFirst Midterm ExaminationProf. B. TurchiFebruary 23, 20122.0e-04General Instru
UNC - ECON - 400
Examination Number:_Last Name_First_Sign the Honor Pledge Below_ PID #__ Write Your Section Number here:_University of North CarolinaEconomics 400: Economic StatisticsFirst Midterm ExaminationProf. B. TurchiGeneral Instructions: Answer all 9 quest
UNC - ECON - 400
Examination Number:_LastName_First_Sign the Honor PledgePIDBelow_#__ Write Your Section Number_here:_University of North CarolinaEconomics 400: Economic StatisticsPractice Second Midterm ExaminationProf. B. TurchiSpring 2012General Instruct
UNC - ECON - 400
Examination Number:_LastName_First_Sign the Honor PledgePIDBelow_#__ Write Your Section Number_here:_University of North CarolinaEconomics 400: Economic StatisticsPractice Second Midterm ExaminationProf. B. TurchiSpring 2012General Instruct
UNC - ECON - 400
Probability23456789101112Total Probabilityis:1/362/363/364/365/366/365/364/363/362/361/361Probability Distribution for Sum of Two Dice1815percentageSum of 2 Dice1296302 3 4 5 6 7 8 9 10 11 12Sum of DiceProperties of a
UNC - ECON - 400
University of North CarolinaSpring 2012ECONOMICS 400: ECONOMIC STATISTICSBoone A. TurchiGardner Hall 200A966-5348email: turchi@email.unc.eduOffice Hours:Tuesday, 4:45-5:45 p.m.or by appointmentWeb Page:http:/www.unc.edu/courses/2010spring/econ/4
UNC - ENVR - 421
Fine Atmospheric Particles:Do we need to worry aboutthem?Almost all combustionleads to the formation offine particlesMastery of Fire400,000 years ago in Europe100,000 years ago in AfricaM. N. Cohne, 1977Ultimately we learned howto use fire to c
UNC - ENVR - 421
ENST/Envr 403 Jan. 29, 2009 Calculating the heat (Joules) from the reaction of H2 and CH4 and even ethanol is straight forward. The problem I asked is set up to annoy you a bit, at different levels. First the approximations of the molecular formula for pe