《计量经济学导论》Chapter 1.pptVIP

Wooldridge: Introductory Econometrics: A Modern Approach, 5e;The Nature of Econometrics and Economic Data;Steps in econometric analysis 1) Economic model (this step is often skipped) 2) Econometric model Economic models Maybe micro- or macromodels Often use optimizing behaviour, equilibrium modeling, … Establish relationships between economic variables Examples: demand equations, pricing equations, …;Economic model of crime (Becker (1968)) Derives equation for criminal activity based on utility maximization Functional form of relationship not specified Equation could have been postulated without economic modeling;Model of job training and worker productivity What is effect of additional training on worker productivity? Formal economic theory not really needed to derive equation: Other factors may be relevant, but these are the most important (?);Econometric model of criminal activity The functional form has to be specified Variables may have to be approximated by other quantities;Econometric model of job training and worker productivity Most of econometrics deals with the specification of the error Econometric models may be used for hypothesis testing For example, the parameter represents effect of training on wage How large is this effect? Is it different from zero?;Econometric analysis requires data Different kinds of economic data sets Cross-sectional data Time series data Pooled cross sections Panel/Longitudinal data Econometric methods depend on the nature of the data used Use of inappropriate methods may lead to misleading results;Cross-sectional data sets Sample of individuals, households, firms, cities, states, countries, or other units of interest at a given point of time/in a given period Cross-sectional observations are more or less independent For example, pure random sampling from a population Sometimes pure random sampling is violated, e.g. units refuse to respond in surveys, or if sampling is characterized by clustering Cross-section