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Tobin's q is defined as the ratio between the market value of the firm over the replacement cost of its assets. If you use WRDS, you can calculate it as follows: Tobin's q = (AT + (CSHO ∗ PRCC_F) − CEQ) / AT Where AT is Total Assets from Compustat/Fundamentals/Balance Sheet Items CSHO is net number of all common shares outstanding from Compustat/...


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Establishments are business locations (source). The real estate industry does not include construction (under either NAICS or SIC). It’s not really possible to tell what exactly would be included without more detail on the specific industry group you are looking at; it could be anything from realtors’ offices to apartment rental buildings, or both+other ...


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I've seen them summed somewhere but I cannot exactly remember where. Ultimately I don't think that it makes much difference. The quarterly sum is just the average multiplied by three. Since local projections are just a bunch of OLS - one for each horizon, this is how you can think about the issue: If $y_{t+h} = \alpha^h + \beta_h news\_shock_t + \sum_{j=1}^{...


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Perhaps more enlightening would be the reason why Remittances increased so much from 1976 to 1982, and then cooled off. 1977 was the year of a military coup in Pakistan (and the imposition of Martial Law), that was also, it appears, the beginning of deep structural socioeconomic changes. In such situation it is not uncommon to see a wave of emigration, among ...


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If anyone ever wonders the same, I´ve just tried weighting the monthly parameters and that leads to the correct interest rates :) you take 1 / 12 * ∑ (12 values of the respective parameter for the respective year). The answer was way easier than I thought :D


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I am not sure about a way to look at it from an economics perspective since I am no economist. However, I am someone interested in this question and looking into doing academic research into this. Here is a few way I would look at this: Economic Perspective: One of the things I would be interested in is looking at the correlations between the severity of ...


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There is no real good general answer for that without detailed knowledge of model you want to estimate. When it comes to $P_t$ people typically use $CPI_t$ as a proxy but when it comes to $M$ it depends on what sort of work you are doing. Some work in fact even estimates $M/P$ in different versions using $M_1$, $M_2$ and $M_3$ (such as Short 1979). In ...


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First, some clarity. The standard language used for interfacing with a DBMS is SQL. However, its syntax and functions slightly vary according to the DBMS system you are interfacing with. The most popular ones are MySQL and PostgreSQL. The choice between them is mostly indifferent. In my personal experience, I found that building a MySQL database from scratch ...


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We cannot perform the desired comparison. Namely, it's not clear that one can sum utilities over multiple individuals in a meaningful way. Utility is an ordinal measure, meaning it only cares about order. The reason the utility functions exist is because I can perform a mapping to a utility function for any list of preferences. Example of the Mapping: If my ...


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Why do you think it should be the OECD data you found on FRED? 100 is a base year, not quarter (seems to be 1991 here, assuming it starts in 1962.1 because it's the average quarterly value in that year that is set to equal 100). The source is more likely a national statistics provider and not the OECD (Statistics Canada here). I haven't found the original ...


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Two sources come to my mind for USA. Both sources, as far as I can remember, are free. CES - Consumer Expenditure Survey: This has information about expenditures and incomes of consumers across USA at different points of time. You can access the data from BLS https://www.bls.gov/cex/ ATUS - American Time Use Data: This collects the time people spend doing ...


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As a CS graduate how much struggle I am to face in this field? What will be the best way to approach this field as a newcomer? You'll probably struggle in the econometrics and statistics portion, just like everyone else. You may also have trouble with the terminology, which will require more work in the theory sections than some might anticipate. Writing ...


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I would argue that utility theory is unfortunately meaningless in this context. As you point out, interpersonal utility comparisons don't work, I can always multiply a utility function by 10 and it will represent the same preferences. In some studies they assume quasilinear utilites and say that money has the same value to everyone, but this assumption would ...


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Data aggregation is a process where you express data in some summary form. For example, if you have data on output of 10 firms for 30 years 1970-2000, and you calculate mean output for every single year and turn the panel data into time series, you are engaging in data aggregation. If you would plot the single time series for average output per year you are ...


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First, there are substantial reasons to believe the data is not log-normal so it would be improper to assume log-normality. So, no you should not do that. You can research the literature on youth wages, it may have information on distributions. However, that is probably more than is necessary. There are two primary ways to estimate the standard deviation ...


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I got the answer from the professor after the assignment was graded during review. I am posting it here as it may help someone else in the future. Apparently, (vintage) data in trapezoid form for GDP are provided at Philadelphia Fed. They have a trapezoid form because when they are plotted on a contour graph they have a trapezoid shape (the graph is from a ...


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The "ragged edge" seems to be more centered around the challenge of so-called "now-casting" -- essentially, near-real-time very-short-term fore- and back-casting -- given that information from different sources is released on different schedules. It's not really a new issue. For example, GDP and other macro-level data is routinely lagged for developing ...


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