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Tuesday, December 04, 2007

Econometrics

Every econometric subject can be divided into the following parts:

  • Model
  • Data
  • Estimation of the model
  • Diagnostics, Selection
  • Interpretation
Step 1 and 2 are interchangable. I personally find the specification of a model and estimation most interesting. These two processes are what can be called modelling whereas the others are either too much or too little theoretic .

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