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What is Types of Econometric Models Explained about?
1. The document discusses the econometric approach, which combines economic theory, facts from data, and statistical techniques to empirically measure and test relationships between economic variables. 2. It explains that an econometric study involves developing an economic theory, estimating methods, and empirically estimating economic relationships. Important ingredients are the model specification based on theory and facts/data from the real world. 3. Econometric models are stochastic models that inc
- Author
- Ethio P
- Language
- EN