Subject Index 991

Economic forecasting; see

Forecasting Economics causality in, 696-702 rational expectation schools, 562 role of time and lag, 657-662 Economic statistics, 2-3 Economic theory, 2 Efficient capital market hypothesis, 799 Efficient estimator, 79, 110 Eigenvalues, 361-362 Elasticity coefficient, 176n of demand, 21, 235-236 measure of, 175-178 Encompassing F test, 531 Encompassing principle, 533 Endogenous variables, 701-702,

717, 736 Endpoint restrictions, 695 Engel expenditure model, 182-183 Engle-Granger test, 823-824 Equal matrices, 916 Equal variance, 68-70 Equations deviation form, 65 identification problem, 735-747 just identified, 742-745, 767-770 normal, 61-62, 566 overidentified, 746-747, 770-778 reduced-form, 737-738 regression, 205

rules for identification, 747-753 structural or behavioral, 737 underidentified, 739-742 Equilibrium conditions, 738 Equilibrium price, 745, 746 Equilibrium quantity, 745, 746 Error component model, 647-649 Error correction mechanism,

824-826 Error learning hypothesis, 670 Error-learning models, 389 Errors of measurement, 524-528 of measurement bias, 509 Error term, 5 autocorrelated, 504 stochastic, 44, 52, 191-192 white noise, 450 Estimable function, 692 Estimate, 49

Estimated generalized least squares, 483-484 Estimation, 107, 895-905 of autoregressive models, 676-678

distributed lag models, 663-664 indirect least squares, 767-770 interval, 896-897 iterative methods, 482-483 of linear regression models,

565-566 of logit model, 597-600 methods, 762-764, 898-899 of nonlinear regression models,

565-572 of panel data models, 640-651 point, 896

simultaneous-equation models,

762-785 two-stage least squares, 770-778 vector autoregression, 849-851 Estimators, 49 best linear unbiased, 248-249 best unbiased, 112 consistent, 903 efficient, 79, 110 generalized least squares, 396 interval, 63, 120 least-squares, 62, 100-106,

198-200 linear, 101

maximum likelihood, 211, 246,

248-249 minimum-variance unbiased, 110 numerical properties, 62-63 ordinary least squares, 79-81,

207-211, 243-244, 248-249 point, 63

precision of, 76-79 test statistic, 129 unbiased, 80-81 weighted least squares, 398 Event history analysis, 636 Events, 870

Exact identification, 742-746 Exact linear relationship, 203 Exact micronumerosity, 348 Exchange rates, 33, 827,

857-859, 863 Excluded specification bias variable, 445 Exclusion criterion, 750 Exogeneity, 701-702 tests for, 756-757 Exogenous variables, 717n, 736-737

Expectations-augmented Phillips curve, 187 Expected mean, 37n Expected value, 37n, 878-880 conditional, 39-40 unconditional, 39-40

Experimental data, 3, 29 Explained sum of squares, 83 Explanatory variable, 15, 18,

24-25; see also Independent variable errors of measurement, 526-528 incremental versus marginal contribution, 260-264 orthogonal, 379 Exponential distribution, 118 Exponential regression model,

175-176, 565-566 Exponential smoothing, 836 Extrapolation, 447

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Rules Of The Rich And Wealthy

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