Lecture_9 - Intro Autoregressions Quantitative Economics...

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Unformatted text preview: Intro Autoregressions Quantitative Economics and Econometrics Sorawoot Srisuma Lecture 9 Intro Autoregressions Causal E/ects and Forecasts Back to the test score and student:teacher (STR) example TestScore i = + 1 STR i + u i Intro Autoregressions Causal E/ects and Forecasts Back to the test score and student:teacher (STR) example TestScore i = + 1 STR i + u i & Recall 1 is does not measure the causal e/ect (omitted variable bias) Intro Autoregressions Causal E/ects and Forecasts Back to the test score and student:teacher (STR) example TestScore i = + 1 STR i + u i & Recall 1 is does not measure the causal e/ect (omitted variable bias) & But OLS estimator still provides a valuable measure b + b 1 STR i Intro Autoregressions Causal E/ects and Forecasts Back to the test score and student:teacher (STR) example TestScore i = + 1 STR i + u i & Recall 1 is does not measure the causal e/ect (omitted variable bias) & But OLS estimator still provides a valuable measure b + b 1 STR i & Even if it is a well speci&ed regression model, is it necessarily useful for prediction? Intro Autoregressions Time Series & Previously we focused on random sampling ( i.i.d.) & Is random sampling always sensible?...
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This note was uploaded on 01/27/2011 for the course ECON 2007 taught by Professor Srisuma during the Spring '10 term at University of London.

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Lecture_9 - Intro Autoregressions Quantitative Economics...

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