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7 votes

Why economics does not believe in data/empirical evidence?

Why economics does not believe in data/empirical evidence? First, economics is a name of a scientific subject, as such it cannot have any beliefs. Economists can have beliefs because economists are ...
1muflon1's user avatar
  • 56.9k
5 votes
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Can data be created using Monte Carlo Simulation

YES I’ll give an example in R. ...
Dave's user avatar
  • 410
4 votes
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Calculating Tobin's q from the financial statements of publicly listed companies

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) − ...
BKay's user avatar
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4 votes

What does 'establishment' mean in real estate industry?

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 ...
dismalscience's user avatar
4 votes
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Regression on individual vs collapsed data

EDIT: Clearly, the controls were the problem. Without controls, this works fine, but with controls not. We are starting to learn that including controls linearly is not as innocuous as one might think....
Papayapap's user avatar
  • 1,843
4 votes

Regression on individual vs collapsed data

Should we expect the regression on individual and aggregated data to be the same? Not necessarily. One reason is that data may be aggregated in more than one way, and different aggregations may yield ...
Adam Bailey's user avatar
  • 8,529
4 votes

Regression on individual vs collapsed data

In general, regressing at the individual level does not guarantee the same results as at the group level. The results may be the same, depending on how the data was collapsed, but not always. However, ...
BB King's user avatar
  • 6,188
4 votes

Big Data: New Tricks for Econometrics

This is a p-value. Varian writes the ctree "chooses the structure of the tree using a sequence of hypothesis tests". I don't know what those hypothesis tests are, but Varian cites Hothorn, ...
Michael Gmeiner's user avatar
3 votes

Can data be created using Monte Carlo Simulation

The library TensorFlow Probability is designed for this purpose. In fact, the first example currently at the web site involves the creation of synthetic data which is then used for a regression ...
Dan Piponi's user avatar
3 votes
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How to create/replicate Diebold's Canadian Employment Index?

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 ...
AKdemy's user avatar
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3 votes
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Converting monthly data to quarterly

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 ...
Grada Gukovic's user avatar
3 votes
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What was the cause of the decline in remittances sent to Pakistan between 1982 and 2000?

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 ...
Alecos Papadopoulos's user avatar
3 votes

Nelson-Siegel-Svensson parameters provided by the Bundesbank

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 ...
Amy's user avatar
  • 51
3 votes
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Minimum wages in France

It is available from 1980 to 2023 on the webpage of the national statistical institute INSEE: https://www.insee.fr/fr/statistiques/1375188 In a centralized country like France, the minimum wage is &...
Bertrand's user avatar
  • 3,371
2 votes

COVID-19 Policy Analysis

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. ...
Hemn Farhad's user avatar
2 votes
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How to obtain real money balances data

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 ...
1muflon1's user avatar
  • 56.9k
2 votes

What percentage of utils do the top 1% pay in tax

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 ...
RegressForward's user avatar
2 votes

Where can I find capital outflow data?

I found the data I needed on the IMF website
Nick Carpenter's user avatar
2 votes

Are they CO2 emission factors for primary energy consumption?

Overview Emission factors (or intensities) are reported by IPCC, e.g. IPCC 5th Assessment Report Annex 3 (2014). These figures aim to include direct emissions as well as full lifecycle emissions ...
bajun65537's user avatar
2 votes
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Which database language and database management system should an economics student learn? (Provided that one has to be learned)

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 ...
anardin's user avatar
  • 56
2 votes

Free representative datasets that I can use to provide examples of econometrics

If you are looking purely for educational datasets, then R has large number of 'built in' datasts that can be freely shared. Even if you do not want to teach R because you want to use other language ...
1muflon1's user avatar
  • 56.9k
2 votes

Minimum wages in France

I would say the best place to look would be the Ministry of Work/Labor, in French, Ministère du Travail. Also potentially the Ministry of Economy and Finance or Le Ministère de l'Économie et des ...
Matt's user avatar
  • 21
1 vote
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confidence interval for standard deviation of bitcoin price

You can always interpret mean and standard deviation and margin of error, but in time series they do not have too much useful interpretation. Mean will tell you what the average bitcoin price change ...
csilvia's user avatar
  • 2,734
1 vote

Panel data with Sector year fixed effects on R

Here is a sketch of the code: Concatenate the sector and year, so it reads as "energy1987" or so. They should be unique. Encode this concatenated vector as a collection of binary dummies. ...
RegressForward's user avatar
1 vote

How to have the yearly index when having monthly index?

Indices are typically aggregated to a lower frequency by taking the average over the sub-periods (the 12 months of the year in your case) if it's just to represent the data in that lower frequency. ...
BrsG's user avatar
  • 1,652
1 vote

How to interpret the significance of estimates if it differs between regression models?

We interpret coefficients as "the change in the outcome that is associated with the variable increasing by 1, holding fixed all other variables". In (4), if Incidenty Type A switches from 0 ...
Michael Gmeiner's user avatar
1 vote

Companies database with strange negative values, are they reasonable from an economic point of view?

Sales, liabilities, total assets and capital expenditures should be logically non-negative. You should however consult metadata/manual for the dataset. Perhaps negative sales record situation where ...
1muflon1's user avatar
  • 56.9k
1 vote

Investment variable in GDP - Data Selection - World Bank, IMF

You can find data on GDP and its components from IMF at this link. IMF separates investment into Gross Fixed Capital Formation and Change in Inventories. If you sum these two variables together you ...
1muflon1's user avatar
  • 56.9k
1 vote

Is there a place to get raw consumer data?

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 ...
erik's user avatar
  • 721
1 vote

Opportunities for Computer Science Graduates in the Field of Economics

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, ...
RegressForward's user avatar

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