class4-06 - Econ 444, Wednesday October 4, class 4 Econ...

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Unformatted text preview: Econ 444, Wednesday October 4, class 4 Econ 444, Wednesday October 4, class 4 Robert de Jong 1 1 Department of Economics Ohio State University Robert de Jong Econ 444, Wednesday October 4, class 4 Econ 444, Wednesday October 4, class 4 1 hand in first takehome 2 discussion of computer exercise 3 upcoming computer test" 4 exercise for today 5 todays lecture Robert de Jong Econ 444, Wednesday October 4, class 4 Econ 444, Wednesday October 4, class 4 Loading data: 1 Load data from a text file; ascii text" 2 Load a workfile; file extension .wf1" Workfile: the data, plus variable names, whether data were weekly, monthly or irregular; loads immediately using File-Open" menu text file: you may need to specify number of variables in the file, names, whether data were weekly, monthly or irregular and such Workfiles are easier; text files are what we often get (e.g. online). Robert de Jong Econ 444, Wednesday October 4, class 4 Econ 444, Wednesday October 4, class 4 Where to find and 1 in the Eviews output? We draw the line y = + 1 x = 1 + 1 x through the point cloud; Eviews lists c and x in output is called the intercept or the constant of the regression 1 1 > 0: regression line is upward sloping 2 1 < 0: regression line is downward sloping 3 1 = 0: regression line horizontal Robert de Jong Econ 444, Wednesday October 4, class 4 Econ 444, Wednesday October 4, class 4 Creating logarithms of variables Remember: log ( x ) is increasing, log ( 1 ) = 0; so if we find a positive slope, this still suggests a positive correlation between...
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class4-06 - Econ 444, Wednesday October 4, class 4 Econ...

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