Eviews Regression with Dummy variables

To understand regression analysis with dummy variables, let us take an example of using dummy variable with structural changes in an economy. For example, there was a structural change in U.S during 1981-1982, and also a severe recession in 2007 and 2008. So when we...

Dummy Variables

By Definition, Dummy variables are Indicator, Categorical and Qualitative variables that are used to quantify the qualitative, nominal scale variables by giving them the value of 0 and 1. In simple words, we come across variable which are non-numerical in their...

What is Regression Analysis ?

In Econometrics, we use the tool of Regression Analysis to understand the economic relationships through quantitative estimation. This quantitative estimation is done by Regression which is one of the most frequent and important tool used to understand economic...

Introduction to Taxes and its Types

What comes in your mind when you hear or see the word “Tax” in your daily life discussions or on some news channel on T.V , newspapers etc ?. Have you ever thought how the Government gets financed and they pay salaries to employees ? Or pay pensions to retired...

What are Index Numbers ?

Introduction Often we want to know how certain variables like prices, production, etc. have changed over time and space. For example, we may like to compare the change in the average retail price of milk in 1985 with that in 1982 or we may like to compare the retail...

Commodity Money vs Fiat Money

There has been numerous stories about exchanges of goods as a form of money in different circumstances . Like there were Cigarettes used in WWII by the prisoner of War camps, beads used by north american Indians , cattle in south Africa, and small green scraps of...

What is Money ?

To explain it with a formal definition Money is : Anything that is accepted as a way of exchange to buy products and services The basics mechanics of the whole monetray system are invisible. Many individuals take money for granted when they are spending it. So when...
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