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Applied Econometrics


# 50926
Applied Econometrics
An explanation of least squares regression using a linear regression model.
2,404 words (approx. 9.6 pages) | 5 sources | MLA | 2004 Australia


Paper Summary:

This essay talks about a linear regression model in ordinary least squares regression, the problems that may arise in an OLS model and how it can be fixed through generalized least squares. Generalized Least Squares (GLS) regression is used when problems occur in OLS estimation. The paper includes graphs and formulae supporting the analysis.

From the Paper:

"Ordinary Least Squares (OLS) regression is a common tool used for economic forecasting when analyzing time series and cross-sectional data. It is quite common as it is one of the easiest ways of estimating parameters in a simple or multiple regression model. Generalized Least Squares (GLS) regression is used when problems occur in OLS estimation. Such problems will cause are estimators to no longer be the Best Linear Unbiased Estimate (BLUE) or efficient and so it is necessary to use a transformed model. In this essay I will show how both OLS and GLS are derived through equations and discuss the problems that may occur under OLS estimation and why it is more suitable to use GLS to estimate a linear model when certain problems occur."

Cite this paper

APA Citation:

Applied Econometrics (2012, January 15). Retrieved February 12, 2012, from http://www.academon.com.au/Essay-Applied-Econometrics/50926

MLA Citation:

"Applied Econometrics" 15 January 2012. Web. 12 Feb. 2012. <http://www.academon.com.au/Essay-Applied-Econometrics/50926>




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Published by:

Margarette AU
Publisher Since:
Apr 25, 2004
The University at which i attend is one of the best universities in New South Wales Australia. Graduates from the University of Western Sydney are amonsgt one of the most student to become employed due to the quality level and structure of how things being taught at the University are conducted. The University employes people from the workforce to lecture and tutor student and those workers give us the student 100% assistance of how the real world really works i terms of economical and financial issues.
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