103lect13hand

103lect13hand - Logarithmic Regression Models Next we will...

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Logarithmic Regression Models - III • In our logarithmic regression models, the slope coefficients measure 3 different things: • 1) log-log: the slope coefficient β 1 = ln( Y i )/ ln( X i ), so ln( Y i )= β 1 ln( X i ) • 2) linear-log: the slope coefficient β 1 = Y i / ln( X i ), so Y i = β 1 ln( X i ) • 2) log-linear: the slope coefficient β 1 = ln( Y i )/ X i, so ln( Y i )= β 1 X i ( ) ( ) 01 ln = ln ii i YX u ββ ++ ( ) ln = i u ( ) = ln i u Logarithmic Regression Models - IV • How can we interpret these relationships, i.e. what does it mean that in these three models, ln( Y i )= β 1 ln( X i ), Y i = β 1 ln( X i ), or ln( Y i )= β 1 X i ?
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This note was uploaded on 05/26/2008 for the course ECON 103 taught by Professor Sandrablack during the Spring '07 term at UCLA.

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103lect13hand - Logarithmic Regression Models Next we will...

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