econometrics wikipedia - EAS
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Econometrics is the application of statistical methods to economic data in order to give empirical content to economic relationships. More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by
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See moreA basic tool for econometrics is the multiple linear regression model. In modern econometrics, other statistical tools are frequently used, but linear regression is still the most frequently used starting point for an
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See moreApplied econometrics uses theoretical econometrics and real-world data for assessing economic theories, developing econometric models, analysing economic history, and forecasting.
Econometrics may use standard statistical models to...
See moreThe main journals that publish work in econometrics are Econometrica, the Journal of Econometrics, The Review of Economics and Statistics
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See moreEconometric theory uses statistical theory and mathematical statistics to evaluate and develop econometric methods. Econometricians try to find estimators that have desirable statistical properties including unbiasedness, efficiency, and consistency.
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See moreA simple example of a relationship in econometrics from the field of labour economics is:
This example assumes that the natural logarithm of...
See moreLike other forms of statistical analysis, badly specified econometric models may show a spurious relationship where two variables are correlated but causally unrelated. In a study of the
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