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E as random variables we study the properties of the

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Unformatted text preview: etrics 48 / 93 Statistical Properties of OLS Recall the population model y = βo + β1 x + u . We now study the statistical properties of OLS: ˆˆ we view βo , β1 as estimators of the parameters ( βo , β1 ), i.e. as random variables, ˆˆ we study the properties of the distributions of βo , β1 over di¤erent random samples from the population. An aside: make sure that you are familiar the following concepts: Melissa Tartari (Yale) Econometrics 48 / 93 Statistical Properties of OLS Recall the population model y = βo + β1 x + u . We now study the statistical properties of OLS: ˆˆ we view βo , β1 as estimators of the parameters ( βo , β1 ), i.e. as random variables, ˆˆ we study the properties of the distributions of βo , β1 over di¤erent random samples from the population. An aside: make sure that you are familiar the following concepts: estimator, Melissa Tartari (Yale) Econometrics 48 / 93 Statistical Properties of OLS Recall the population model y = βo + β1 x + u . We now study the statistical properties of OLS: ˆˆ we view βo , β1 as estimators of the parameters ( βo , β1 ), i.e. as random variables, ˆˆ we study the properties of the distributions of βo , β1 over di¤erent random samples from the population. An aside: make sure that you are familiar the following concepts: estimator, unbiasedness of an estimator, Melissa Tartari (Yale) Econometrics 48 / 93 Statistical Properties of OLS Recall the population model y = βo + β1 x + u . We now study the statistical properties of OLS: ˆˆ we view βo , β1 as estimators of the parameters ( βo , β1 ), i.e. as random variables, ˆˆ we study the properties of the distributions of βo , β1 over di¤erent random samples from the population. An aside: make sure that you are familiar the following concepts: estimator, unbiasedness of an estimator, e¢ ciency of an estimator. Melissa Tartari (Yale) Econometrics 48 / 93 Unbiasedness of the OLS Estimator I - the Roadmap ˆ We start by focusing on the …rst moment of the distribution o...
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This note was uploaded on 02/13/2014 for the course ECON 350 taught by Professor Donaldbrown during the Fall '10 term at Yale.

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