final model

Econometrics

economic growth using the EU-27 countries as your sample.  In undertaking this task, you are required to demonstrate a thorough understanding of the econometric techniques. The database must be set up as an EXCEL spreadsheet and the econometric analysis must be undertaken using EViews.

The Analysis

a)    Using the ESDS database, prepare an EXCEL spreadsheet containing data on a measure of economic growth, energy consumption, a energy price index, a measure of inflation, a measure of  industrial productivity for:

•    the EU-27 countries for one year.
•    One EU member state for a period of 30 years.

b)     Undertake preliminary data analysis on the variables for

•    the cross-sectional data
•    the time series data

c)     Estimate an initial static model for energy consumption using the other variables in your database as regressors using the following samples:

•    The cross-sectional data
•    The time-series data

d)    Using misspecification, diagnostic tests and model evaluation procedures, revise the two models you have estimated

e)    Write up a report on the analysis in (a) – (b)

The econometric  analysis report should contain:

•    a discussion on the data selection for the two samples;
•    a preliminary analysis of the data;
•    a specification of your initial and final models for each sample;
•    a discussion of the procedure used to arrive at the final model;
•    A table containing the models and relevant statistics for the models in the intermediate stages;
•    A critical comparative discussion of the results of the two final models.
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