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

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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 today’s 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 ˆ β and ˆ β 1 in the Eviews output? We draw the line y = ˆ β + ˆ β 1 x = ˆ β · 1 + ˆ β 1 · x through the point cloud; Eviews lists “c” and “x” in output ˆ β is called the intercept or the constant of the regression 1 ˆ β 1 > 0: regression line is upward sloping 2 ˆ β 1 < 0: regression line is downward sloping 3 ˆ β 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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This note was uploaded on 04/13/2009 for the course ECON 444 taught by Professor Ogaki during the Fall '07 term at Ohio State.

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

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