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Econometrics Formula Overview

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0% found this document useful (0 votes)
13 views3 pages

Econometrics Formula Overview

Uploaded by

kamalizaanais
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Simple linear regression (Chapters 2 to 4)

• Model : Yi =  +  Xi + Ui , with Ui ~ N(0, ²) and Ui pairwise uncorrelated


• Estimation of the parameters:
a = y −bx
s
b=r y
sx
with r the sample correlation coefficient between x and y
1  xi − x  yi − y 
r=   
n − 1  sx  s y 

• Estimated model : yˆi = a + b xi


• Residual : eˆi = yi − yˆi = yi − ( a + b xi )
• Estimation of the model standard deviation  
1 1
ˆ =  ( yi − yˆi ) = 
2
eˆi2 (Standard Error of the Regression)
n−2 n−2
• Inference for the regression parameters:
Inference for slope  Inference for intercept 
Estimator B A
ˆ x2
Standard Error SEB = SEA = ˆ
1
+
n − 1 sx n (n − 1) sx2
B− A −
Test statistic T= ~ tn-2 T= ~ tn-2
SEB SE A
Confidence interval  = B  tn − 2, / 2 SEB  = A  tn − 2, / 2 SE A

• Confidence- and prediction interval for a given x


Confidence interval Prediction interval for Y at a
for the mean of Y at a given x given x
Y|X=x Y|X=x
1 (𝑥 − 𝑥̄ )2 1 (𝑥 − 𝑥̄ )2
Standard Error 𝑆𝐸𝜇̂ = 𝜎̂ √ + 𝑆𝐸𝑦̂ = 𝜎̂ √1 + +
𝑛 (𝑛 − 1)𝑠𝑥2 𝑛 (𝑛 − 1)𝑠𝑥2
Conf/pred yˆ  tn − 2, /2 SEˆ yˆ  tn − 2, /2 SE yˆ
interval

• Assumptions:
o (SR1) Y =  +  X + U
o (SR2) E(U|X=x) = 0 for every x
o (SR3) Var(U|X=x) = ²
o (SR4) Cov(Ui, Uj) = 0 for i≠j
o (SR5) X is not constant
o (SR6) U|X=x is normally distributed

• Test for correlation: H0 :  = 0 versus Ha :  ≠ 0


𝑛−2
Test statistic : 𝑇 = 𝑅√1−𝑅2 ~ tn−2
Multiple linear regression (Chapters 5 to 8)
• Model : Yi =  +  X1i + 2 X2i + ... + k Xk i + Ui , with Ui ~ N(0, ²) and Ui pairwise
uncorrelated
• Estimated model : yˆi = a + b1 x1i + b2 x2i + ... + bk xki
• Residual : eˆi = yi − yˆi = yi − ( a + b1 x1i + b2 x2i + ... + bk xki )
• Estimation of the model standard deviation  
1 1
ˆ =  ( yi − yˆi ) =  eˆi2 = MSE (Regression Standard Error)
2

n − k −1 n − k −1
• ANOVA-table for multiple regression:

SS DF MS = SS/DF F p-waarde
Regression (Model) SSR k MSR = SSR/DFR MSR/MSE p-value
Error (Residual) SSE n–k–1 MSE = SSE/DFE
Total SST n–1

• Explained variation due the model


 ( yˆ − y )
2
SSR = Sum of Squares Regression = i

• Unexplained variation (variation around the model)


SSE = Sum of Squares Error =  ( yi − yˆi ) =  eˆi2
2

• Total variation of the dependent variable:


( y − y )
2
SST = Sum of Squares Total = i

• SSR + SSE = SST


• R² = SSR / SST = 1 – SSE/SST
= fraction of the variation in the dependent variable that can be explained by the
model
= ( r ( y, yˆ ) )
2

𝑆𝑆𝐸/(𝑛−𝑘−1)
• 2
𝑅𝐴𝑑𝑗 =1− 𝑆𝑆𝑇/(𝑛−1)
• Overall ANOVA F-test for multiple regression:
H0 :  = 2 = ... = k = 0 versus Ha : not all i = 0
• T-test voor the individual parameters:
H0 : i = 0 versus Ha : i ≠ 0
Test statistic:
B − i
T= i ~ tn−k−1
SEBi
• Joint F-test to test j restrictions:
Test statistic:
( SSER − SSEU ) / j ( RU2 − RR2 ) / j
F= = ~ F(j, n−p)
SSEU / (n − p) (1 − RU2 ) / (n − p)
with j the number of restriction, n the number of cases, and p the number of coefficients to
be estimated in the model without restrictions (p=k+1)
Overview of some R commands (examples)

Task R command
Scatter plot plot(x, y)
Correlation cor(x, y)
Linear regression model model <- lm(y ~ x1 + x2 + x3)
Output of the model summary(model)
Confidence intervals for the confint(model, level=0.95)
parameters
Package for heteroskedasticity sandwich, lmtest
corrected (robust) standard errors oproepen via bijv. library(sandwich)
t-tests with heteroskedasticity coeftest(model1,vcov=vcovHC(model1,type="HC1"))
corrected standard errors
Add regression line to scatter plot abline(model)
Residuals of the regression model residuals(model) of model$residuals
Predicted y-values (y^) [Link](model)
of model$[Link]
R² of the model summary(model)$[Link]
Histogram hist(x)
Normal quantile plot qqnorm(x)
F-test for comparing 2 models anova(model1, model2)
F-test for comparing 2 models waldtest(model1,model2,vcov=vcovHC(model2,type="HC1"))
(robust SE)
Creating dummies dummy1 <- (x == cat1)
of dummy1 <- (x == cat1)*1
Descriptive statistics [Link] uit het package pastecs
Descriptive statistics describe uit het package psych
Cumulative distribution function pnorm
of a normal distribution
Inverse cumulative distribution qnorm
function of a normal distribution
t-distribution (c.d.f., inverse c.d.f.) pt, qt
F-distribution (c.d.f., inverse cdf) pf, qf
Binomial distribution (probability dbinom, pbinom, qbinom
mass function, c.d.f., inverse cdf)

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