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C LAVE U NICA : __________________ PLEASE DO NOT WRITE YOUR NAME . Applied Econometrics Final 22nd of May, 2006 This exam consists of ten short questions ( worth four points apiece ) and six long questions ( worth fifteen points each ) , for a total of 130 points. You have 120 minutes to answer all completely and clearly in the space provided. Short Questions 1. What is a natural experiment? 2. What condition guarantees the unbiasedness of the OLS estimator? 3. How do we estimate panel data models, in the case that the explanatory variables satisfy only the sequential exogeneity condition?
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4. What effect does classical measurement error have on OLS estimates, and what is the solution to this problem? 5. State the formula for the Generalized Least Squares ( GLS ) estimator. 6. You want to know how the decision whether or not a person votes in the election is affected by several variables ( including the number of candidates in the election, the proximity of the candidates in the opinion polls, and whether the
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