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Chapter 2 The Simple Linear Regression Model 39 Learning Objectives 39 Keywords 2.1 An Economic Model 2.2 An Econometric Model 2.2.1 Introducing the Error Term 2.3 Estimating the Regression Parameters 2.3.1 The Least Squares Principle 51 2.3.2 Estimates for the Food Expenditure Function 2.3.3 Interpreting the Estimates 2.3.3a Elasticities 2.3.3b Prediction 2.3.3c Computer Output 2.3.4 Other Economic Models 2.4 Assessing the Least Squares Estimators 2.4.1 The Estimator b 2 2.4.2 The Expected Values of b\\ and b 2 2.4.3 Repeated Sampling 2.4.4 The Variances and Covariance of b\\ and b 2 2.5 The Gauss-Markov Theorem 2.6 The Probability Distributions of the Least Squares Estimators 2.7 Estimating the Variance of the Error Term 2.7.1 Estimating the Variances and Covariance of the Least Squares Estimators 2.7.2 Calculations for the Food Expenditure Data 2.7.3 Interpreting the Standard Errors 2.8 Estimating Nonlinear Relationships 68 2.8.1 Quadratic Functions 69 2.8.2 Using a Quadratic Model 69 2.8.3 A Log-Linear Function 70 2.8.4 Using a Log-Linear Model 2.8.5 Choosing a Functional Form 73 2.9 Regression with Indicator Variables 74 2.10 Exercises 75 2.10.1 Problems 75 2.10.2 Computer Exercises 78 Appendix 2A Derivation of the Least Squares Estimates 83 Appendix 2B Deviation from the Mean Form of b 2 84 Appendix 2C b 2 Is a Linear Estimator 85 Appendix 2D Derivation of Theoretical Expression for b 2 85 Appendix 2E Deriving the Variance of b 2 86 Appendix 2F Proof of the Gauss-Markov Theorem 87 CONTENTS xiii Appendix 2G Monte Carlo Simulation 88 2G.1 The Regression Function 88 2G.2 The Random Error 89 2G.3 Theoretically True Values 90 2G.4 Creating a Sample of Data 91 2G.
6008, website www.wiley.com/go/permissions.
This book is intended for a graduate econometrics course on panel data. The prerequisites include a good background in mathematical statistics and econometrics at the level of Greene (2003). Matrix presentations are necessary for this topic. Some of the major features of this book are that it provides an up-to-date coverage of panel data techniques, especially for serial correlation, spatial correlation, heteroskedasticity, seemingly unrelated regressions, simultaneous equations, dynamic models, incomplete panels, limited dependent variables and nonstationary panels. I have tried to keep things simple, illustrating the basic ideas using the same notation for a diverse literature with heterogeneous notation. Many of the estimation and testing techniques are illustrated with data sets which are available for classroom use on the Wiley web site (www.wiley.com/go/baltagi3e). The book also cites and summarizes several empirical studies using panel data techniques, so that the reader can relate the econometric methods with the economic applications. The book proceeds from single equation methods to simultaneous equation methods as in any standard econometrics text, so it should prove friendly to graduate students. The book gives the basic coverage without being encyclopedic. There is an extensive amount of research in this area and not all topics are covered. The first conference on panel data was held in Paris more than 25 years ago, and this resulted in two volumes of the Annales de l'INSEE edited by Mazodier (1978). Since then, there have been eleven international conferences on panel data, the last one at
The aim of the Handbooks in Economics series is to produce Handbooks for various branches of economics, each of which is a definitive source, reference, and teaching supplement for use by professional researchers and advanced graduate students. Each Handbook provides self-contained surveys of the current state of a branch of economics in the form of chapters prepared by leading specialists on various aspects of this branch of economics. These surveys summarize not only received results but also newer developments, from recent journal articles and discussion papers. Some original material is also included, but the main goal is to provide comprehensive and accessible surveys. The Handbooks are intended to provide not only useful reference volumes for professional collections but also possible supplementary readings for advanced courses for graduate students in economics.
SSRN Electronic Journal, 2011
This paper discusses likelihood-based estimation of linear panel data models with general predetermined variables and individual-specifi c effects. The resulting (pseudo) maximum likelihood estimator is asymptotically equivalent to standard GMM but tends to have smaller fi nite-sample biases as illustrated in simulation experiments. Moreover, the availability of such a likelihood function allows applying the Bayesian apparatus to this class of panel data models. Combining the aforementioned estimator with Bayesian model averaging methods we estimate empirical growth models simultaneously considering endogenous regressors and model uncertainty. Empirical results indicate that only the investment ratio seems to robustly cause long-run economic growth. Moreover, the estimated rate of convergence is not signifi cantly different from zero.
PENGARUH LIKUIDITAS TERHADAP KINERJA KEUANGAN DAN HARGA SAHAM PERUSAHAAN, 2019
Pengertian Likuiditas, Alat ukur Rasio Likuiditas, Pengertian Kinerja Keuangan, Tujuan Pengukuran Kinerja Keuangan, Hubungan Rasio Kuangan dengan Kinerja Keuangan, Harga Saham, HUbungan Rasio Likuiditas dengan Harga Saham, Analisis Pengaruh Likuiditas Untuk Mengukur Kinerja Keuangan, Analisis Pengaruh Likuiditas terhadap Harga Saham
Federalism, 2015
Abstract The concept of good governance was emerged as a development agenda by World Bank twenty years ago. The 1989 World Bank study, Sub-Saharan Africa from Crisis to Sustainable Growth, indicated good governance as a public service that is efficient, a judicial system that is reliable and an administration that is accountable to the public. The existence of good governance everywhere is key for all activities success. The function of good governance in the public sector is to ensure that entities act in the public interest at all times. Acting in the public interest requires strong commitment to integrity, ethical values, the rule of law, openness and comprehensive stakeholder engagement. On the other hand, local government being the sphere of government that exists closest to the people of a state has often been described as the most important sphere of government. Since local government institutions affect the lives of all people living within the territory of a state, they are rightly regarded as the backbone of a balanced democracy. An effective and efficient local government system is therefore of obvious importance. If the local sphere of government does not work properly then the state in general will not work. Furthermore, all local government authorities are inextricably linked to the people of the state. If a sound and stable local democracy is not ensured, then the state itself is in danger of collapsing. This study has focused on An assessment of good governance in local government in the case of Sasiga woreda, East Wollega zone, Oromia National Regional State. The rationale behind the selection of the title is that in the woreda there are problems of checks and balances system among the three organs of government at the woreda level to ensure good governance, lack of transparency, lack of accountability, lack of participation of residents on their affairs, lack of responsiveness on residents wide problems, and lack of institutional frameworks on participation of residents. Hence, the main objective of this research is to assess the fundamental factors that cause for the absence of good governance in local government in particular to Sasiga Woreda. And to realize this study, the researcher has used both qualitative and quantitative methods as well as appropriate research techniques. Based on the conducted interviews, focus group discussions, and questionnaire distributed, the major findings of the study are weak application of good governance principles; weak institutional and organizational capacity; poor checks and balances among the three organs of government in the Woreda; ineffective and inefficient service delivery system in the Woreda's Sectors and weak local government: structurally strong, functionally weak. Thus, the researcher has recommended on let the above problems are solved based on the principles of good governance. Key words: Good governance, Local government, Accountability, Rule of law, Transparency
2015
Este texto pretende tratar da nocao de “cultura popular”, a partir das modificacoes que foi sofrendo atraves das ultimas decadas, e dos diversos significados possiveis oriundos de sua utilizacao na contemporaneidade, tanto do ponto de vista teorico como tambem de experiencias envolvendo os agentes envolvidos com essas praticas. Nesse sentido, pretende analisar a acao politica e cultural de grupos ligados as culturas populares, mobilizados em busca de sua afirmacao identitaria, reconhecimento e valorizacao na sociedade brasileira. Assim, buscamos nesse ensaio, tentar compreender o significado desses processos no contexto atual, como tambem estabelecer alguns parâmetros para definir a cultura popular na contemporaneidade, a partir dessa multiplicidade de articulacoes.
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