Using 81 quarterly observations on the growth rate of employment (Y) and the growth rate of output (X), the following regression results are obtained by ordinary least squares (t 1, 2,...,81): = -0.002+0.105X, +0.730Y-1+0.063X1-1 (0.001) (0.014) (0.045) (0.016) BG 1.100 [0.363], WH 1.474 [0.175], RESET = 0.081 [0.777], R2 = 0.8827, SSR 0.00061, = -0.002+0.086(X + X-1)+0.711Y-1, (0.011) (0.001) R² = 0.8767, (0.045) SSR = 0.00065. is the fitted value of the regression; figures in parentheses are the standard errors of the estimated coefficients; R² is the coefficient of determination; SSR is the sum of squared residuals; BG is the Breusch Godfrey test for fourth-order autocorre lation; WH is White's test for heteroskedasticity; RESET is Ramsey's regression specification error test; figures in square brackets are the p-values of BG, WH and RESET. Test the null hypothesis that the coefficients on X and X-1 in the first regres- sion are equal against the alternative hypothesis that they are not equal (the 5% critical value for the test is 3.9651). State clearly what the distribution of your test statistic is under the null hypothesis.
Using 81 quarterly observations on the growth rate of employment (Y) and the growth rate of output (X), the following regression results are obtained by ordinary least squares (t 1, 2,...,81): = -0.002+0.105X, +0.730Y-1+0.063X1-1 (0.001) (0.014) (0.045) (0.016) BG 1.100 [0.363], WH 1.474 [0.175], RESET = 0.081 [0.777], R2 = 0.8827, SSR 0.00061, = -0.002+0.086(X + X-1)+0.711Y-1, (0.011) (0.001) R² = 0.8767, (0.045) SSR = 0.00065. is the fitted value of the regression; figures in parentheses are the standard errors of the estimated coefficients; R² is the coefficient of determination; SSR is the sum of squared residuals; BG is the Breusch Godfrey test for fourth-order autocorre lation; WH is White's test for heteroskedasticity; RESET is Ramsey's regression specification error test; figures in square brackets are the p-values of BG, WH and RESET. Test the null hypothesis that the coefficients on X and X-1 in the first regres- sion are equal against the alternative hypothesis that they are not equal (the 5% critical value for the test is 3.9651). State clearly what the distribution of your test statistic is under the null hypothesis.
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
Section: Chapter Questions
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