Lab2 - 1 File: WINWORD\ECONMET\PcGive exercises\Lab2.doc...

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Unformatted text preview: 1 File: WINWORD\ECONMET\PcGive exercises\Lab2.doc APPLIED ECONOMETRICS: COMPUTER SESSION 2 To complete this exercise, you will need the GiveWin file saved from the previous exercise (that should have the filename Nic2.in7). OBJECTIVE We estimate a parsimonious, restricted regression in which real total consumers' expenditure is explained by real personal disposable income and real wealth. We examine a little further some of techniques in PcGive for evaluating the statistical quality of our estimated model. In particular, attention is given to the powerful graphical procedures in PcGive for testing parameter constancy. PROCEDURE Ensure that all estimations are done over the sample period 1970 Q1 to 1988 Q4, except where you are explicitly asked to use another sample period or where the sample has to be set differently to perform a particular diagnostic test. 1. Estimate by Ordinary Least Squares (OLS) the restricted dynamic model given by the regression of DLCE on an intercept, DLY t , DDLY...
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This note was uploaded on 03/01/2012 for the course EC 408 taught by Professor Rogerperman during the Fall '07 term at Uni. Strathclyde.

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Lab2 - 1 File: WINWORD\ECONMET\PcGive exercises\Lab2.doc...

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