ex2_answer_120c_su08_S2-1

ex2_answer_120c_su08_S2-1 - STUDENT CONSENT FOR RELEASE OF...

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STUDENT CONSENT FOR RELEASE OF STUDENT INFORMATION (Buckley Waiver) I hereby authorize the UCSD Economics Department to return my graded final examination/research paper by placing it in a location accessible to all students in the course. I understand that the return of my examination/research paper as described above may result in disclosure of personally identifiable information, that is not public information as defined in UCSD PPM 160-2, and I hereby consent to the disclosure of such information. Quarter Summer 2008-S2 C o u r s e E c o n 1 2 0 C D a t e A u g u s t 5 , 2 0 0 8 Instructor Professor Yongil Jeon Student ID# Print Name Signature
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2 Answer to FINAL EXAM, ECO 120C, Summer 2008 – S2 Economics 120C Name: _________________________ September 5, 2008 (7-10pm) Student ID#: ________key_______ Answer to Final Exam: Econometrics (Econ 120C) Multiple Choices 1. (3 points) T h e n o t a t i o n f o r p a n e l d a t a i s (,) ,1 , . . . , it it X Yi n and 1,. .., tT because a. we take into account that the entities included in the panel change over time and are replaced by others. b. the X ’s represent the observed effects and the Y the omitted fixed effects. c. there are n entities and T time periods. d. n has to be larger than T for the OLS estimator to exist. Answer : c 2. (3 points) cov (, | , )0 it is it is uu X X for ts z means that a. there is no perfect multicollinearity in the errors. b. division of errors by regressors in different time periods is always zero. c. there is no correlation over time in the residuals. d. conditional on the regressors, the errors are uncorrelated over time. Answer : d 3. (3 points) Assume that data become available on other characteristics of the subjects that are relevant to determining the experimental outcome. Then including these determinants explicitly results in a. the limited dependent variable model. b. the differences in means test. c. the multiple regression model. d. large scale equilibrium effects. Answer : c 4. (3 points) Departures from stationarity a. jeopardize forecasts and inference based on time series regression. b. occur often in cross-sectional data. c. can be made to have less severe consequences by using log-log specifications. d. cannot be fixed Answer : a
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3 Answer to FINAL EXAM, ECO 120C, Summer 2008 – S2 5. (3 points). An autoregression is a regression a. of a dependent variable on lags of regressors. b. that allows for the errors to be correlated. c. model that relates a time series variable to its past values. d. to predict sales in a certain industry. Answer : c 6. (3 points). The random walk model is an example of a a. deterministic trend model. b. binomial model. c. stochastic trend model. d. stationary model. A n s w e r : c 7. (15 points) Consider the binary variable version of the fixed effects model Y it = E 0 + 1 X it + J 1 D 1 i + 2 D 2 i + . . . + n Dn i + u it , a. (5 points) Suppose that n=3. Show that the inclusion of all binary regressors and the “constant” regressor are perfectly multicollinear, that is, express one of the variables D1 t , D2 t , D3 t , X 0,it as a perfect linear function of the others, where X 0,it =1 for all i, t.
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This note was uploaded on 10/21/2010 for the course ECON 1530 taught by Professor Ohly during the Spring '10 term at Dartmouth.

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ex2_answer_120c_su08_S2-1 - STUDENT CONSENT FOR RELEASE OF...

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