Econometrics-I-1 - Applied Econometrics William Greene...

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Unformatted text preview: Applied Econometrics William Greene Department of Economics Stern School of Business Applied Econometrics 1. The Paradigm of Econometrics Econometrics: Paradigm Theoretical foundations Microeconometrics and macroeconometrics Behavioral modeling: Optimization, labor supply, demand equations, etc. Statistical foundations Mathematical Elements Model building the econometric model Mathematical elements The underlying truth is there one? What is bias in model estimation? Why Use This Framework? Understanding covariation Understanding the relationship: Estimation of quantities of interest such as elasticities Prediction of the outcome of interest Controlling future outcomes using knowledge of relationships Measurement as Observation Population Measurement Theory Characteristics Behavior Patterns Choices Inference Population Measurement Econometric s Characteristics Behavior Patterns Choices Model Building in Econometrics Role of the assumptions Parameterizing the model Nonparametric analysis Semiparametric analysis Parametric analysis Sharpness of inferences Application: Is there a relationship between investment and capital stock? (10 firms, 20 years) Nonparametric Regression What are the assumptions?...
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This note was uploaded on 06/20/2011 for the course ECON 803 taught by Professor Pp during the Spring '11 term at Thammasat University.

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Econometrics-I-1 - Applied Econometrics William Greene...

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