Economics > QUESTIONS & ANSWERS > Econometrics Concepts with Accurate Answers (All)

Econometrics Concepts with Accurate Answers

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Causal Effect Correct Answer A ceteris paribus change in one variable that has an effect on another variable Ceteris Paribus Correct Answer all other relevant factors are held fixed Cross-sectio... nal Data Set Correct Answer A data set collected by a sampling population at a given point in time Data Frequency Correct Answer The frequency at which time series data are collected. Yearly, quarterly, and monthly are the most common data frequencies Econometric Model Correct Answer An equation relating the dependent variable to a set of explanatory variables and unobserved disturbances, where unknown population parameters determine the ceteris paribus effect of each explanatory variable Empirical Analysis Correct Answer A study that uses data in a formal econometric analysis to test a theory, estimate a relationship, or determine the effectiveness of a policy. Experimental Data Correct Answer Data that have been obtained by running a control group Nonexperimental Data Correct Answer Data that have not been obtained through a controlled experiment. Observational Data Correct Answer See Nonexperimental Data Panel Data Correct Answer A data set constructed frm repeated cross sections over time. With a balanced panel, the same unit appear in each time period. With an unbalanced panel, some units do not appear in each time period, often due to attrition. Pooled Cross Section Correct Answer A data configuration where independent cross sections, usually collected at different points in time, are combined to produce a single data set. [Show More]

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