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Unformatted text preview: C LAVE U NICA : __________________ PLEASE DO NOT WRITE YOUR NAME . Applied Econometrics Final 17th of July, 2006 This exam consists of ten short questions ( worth four points apiece ) and five long questions ( worth fifteen points each ) , for a total of 100 points. You have 120 minutes to answer all completely and clearly in the space provided. Short Questions 1. When your dependent variable is censored, what happens to OLS estimates? What is the best technique to use with censored data? 2. What are the advantages and disadvantages of the fixed effects estimator, compared to the random effects estimator? 3. What is a natural experiment? 4. You want to estimate the effects of corruption on economic development, using data on some countries from 1976 through 2005. However, data on corruption is not recorded for some of the countries in some of the years. How should you estimate this problem? 5. In general, what does the Hausman test compare?...
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- Spring '08
- Econometrics, OLS, Panel data, CRIMEi