A brief introduction to elementary terms in econometrics
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | The variable that you measure or observe to see how it changes in response to changes in the independent variable(s).
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| Independent variable (Uavhengig variabel) | show 🗑
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| Regression Analysis | show 🗑
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| Error term (u) | show 🗑
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| Multicollinearity | show 🗑
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| show | Variance of the errors varies across levels of the independent variables leading to inefficient estimators (but not biased) - OLS is not BLUE
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| show | Variance of the errors are constant across all levels of the independent variables, leading to efficient and reliable estimators -> Also required for BLUE
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| show | Time-series data set consists of observations on a variable - or several - over different time periods.
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| Ordinary Least Squares (OLS) | show 🗑
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| show | Coefficient of determination, ranges from 0-1. Value of 1 = model perfectly explains the variance in the dependent variable, value of 0 = model explains nothing.
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| T-value | show 🗑
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| Endogeneity | show 🗑
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| Exogeneity | show 🗑
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| show | Variable that
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| Multiple regression | show 🗑
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| Instrumental variable | show 🗑
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| Unbiased OLS estimators - Assumptions | show 🗑
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| Coefficient | show 🗑
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Created by:
Victorpetrov
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