metricsexam2s05

metricsexam2s05 - Applied Econometrics Final 23rd of May,...

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Applied Econometrics Final 23 rd of May, 2005 This exam consists of ten short questions ( worth three points apiece ) and six long questions ( worth fifteen points each ) , for a total of 120 points. You have 120 minutes to answer all completely and clearly in the space provided. Short Questions: Define the following terms. If I gave multiple definitions for a single term, any of these definitions is acceptable. 1. Unbiasedness 2. Panel data 3. Heteroskedasticity 4. Excluded variable
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5. Counterfactual 6. Estimator 7. Sequential exogeneity 8. Proxy variable 9. Sample selection bias 10. Censoring ( of the data )
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Suppose that the model is y i = ! 1 + 2 " x i + e i ( the standard linear model with a single regressor ) , but the variable x i is endogenous. This variable is related to the instrument z i according to the formula x i = 1 + 2 " z i + u i , and z i is uncorrelated with e ( or IV ) estimator is unbiased.
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This note was uploaded on 03/19/2010 for the course ECON 570 taught by Professor Staff during the Spring '08 term at UNC.

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metricsexam2s05 - Applied Econometrics Final 23rd of May,...

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