What is an econometrician? - Economics Stack Exchange
Jun 16, 2016 · 5. According to Wikipedia, Econometrics is the application of mathematics, statistical methods, and computer science to economic data and is described as the branch of economics that aims to give empirical content to economic relations. It sifts through mountains of data to extract simple relationships. Generally for positions like Analytic ...
statistics - How is Regression different from Econometrics?
Apr 18, 2020 · One other important difference is that econometrics often deals with modelling behavior. Regression can be used as a tool for doing this but there are additional issues involved ( that I won't get into here ) that statisticians usually don't get involved with. Generally speaking, statisticians are not dealing with behavioral issues.
Identifying assumption meaning - Economics Stack Exchange
Aug 11, 2020 · There are also contexts where an econometrician speaks about a specific estimator that's designed to estimate a specific parameter in a specific model. An assumption under which the estimator consistently estimates the parameter is …
econometrics - consistency and unbiasedness of ols estimator ...
Apr 25, 2022 · To conclude there is consistency also requires that Cov(ut−s,Ct−1) = 0 C o v (u t − s, C t − 1) = 0 for all s> 0 s> 0. OLS is definitely biased. For unbiasedness, we need E[ut|C] = 0 E [u t | C] = 0 where C C is a vector of Ct C t at all time periods. This is impossible because ut u t is definitely correlated with Ct C t (at the same ...
Testing for Endogeneity - Economics Stack Exchange
2. I apologize if this question is very basic. I have the following plain vanilla Instrumental Variable model. Y = α + Xβ + ε Y = α + X β + ε. X = δ + Zγ + η X = δ + Z γ + η. ε ⊥ η, Z ⊥ η ε ⊥ η, Z ⊥ η true. I am interested in testing ε ⊥ X ε ⊥ X, that is, whether …
econometrics - Can data from discrete choice experiments be …
Dec 7, 2017 · I am not an econometrician, but noticed that discrete choice experiments are often used to determine willingness to pay for products with specific characteristics and prices. However, these average prices seem to be reported for the average person in that sample, not being specific to specific groups of individuals.
Why we need at least 40 groups to be properly clustered?
Jun 12, 2021 · For a clustered errors a rule of thumb is 30-40 (clusters i.e. groups don't confuse this with observation count) although most authors go with the upper value of 40 or even Angrist and Pischke went for 42 (see MHE pp 319*). Now the rule is arbitrary in the sense that of course every problem is unique and sometimes 29 or 31 clusters might be ...
econometrics - How to choose between fixed and random effects …
Oct 31, 2020 · In class, our professor said that when it comes to deciding between estimating panel regression with fixed and random effects we should not just blindly follow the Hausman test, but also think abou...
What is the difference between ATE and ATT?
Jun 5, 2021 · The average treatment effect (ATE) is used when we are interested in the average treatment of the entire population, whereas the average treatment effect of the treated (ATT) is used when we are only interested in the average treatment effect of those treated. Share. Improve this answer. edited Jan 25 at 12:53.
How to use an instrumental variable to estimate the parameter?
Nov 27, 2019 · I am not an econometrician so this will be a very informal explanation how to get the Instrumental Variable (IV) estimates.