(e)Suppose you have been given the following ordinary least squares (OLS)regression result.Estimated Long Run Coefficients using the ARDL ApproachARDL (1,2,2,2,0,2) selected based on Akaike Information CriterionDependent variable is LY33 observations used for estimation from 1987 to 2019T-Ratio [Prob.]4.6671[0.000]4.6678[0.051]7.9897[0.043]-4.802[0.009]2.3898[0.028]1.0498[0.308]RegressorCoefficientStandard Error0.360680.45447LK0.077280LM0.0973630.48751-0.412080.190570.52521LE0.061017LF0.085800LT0.079744C0.500320where,Y = Economic growthK = CapitalM = EmploymentE = Electricity consumptionF = Foreign direct investmentT= Technology(i)Write the regression equation. Interpret the estimated coefficients.(ii)Which explanatory variables are significant at the 1%, 5% and 10% level?Which variables are insignificant? Briefly explain.

(e) Suppose you have been given the following ordinary least squares (OLS) regression result. Estimated Long Run Coefficients using the ARDL Approach ARDL (1,2,2,2,0,2) selected based on Akaike Information Criterion Dependent variable is LY 33 observations used for estimation from 1987 to 2019 Regressor LK T-Ratio [Prob.] 4.6671[0.000] 4.6678[0.051] 7.9897[0.043] -4.802[0.009] 2.3898[0.028] 1.0498[0.308] Coefficient Standard Error 0.36068 0.077280 LM 0.45447 0.097363 LE 0.48751 0.061017 LF -0.41208 0.085800 LT 0.19057 0.079744 0.52521 0.500320 where, Y = Economic growth K = Capital M = Employment E = Electricity consumption F = Foreign direct investment T= Technology %3D %3D

(e) Suppose you have been given the following ordinary least squares (OLS) regression result. Estimated Long Run Coefficients using the ARDL Approach ARDL (1,2,2,2,0,2) selected based on Akaike Information Criterion Dependent variable is LY 33 observations used for estimation from 1987 to 2019 Regressor LK T-Ratio [Prob.] 4.6671[0.000] 4.6678[0.051] 7.9897[0.043] -4.802[0.009] 2.3898[0.028] 1.0498[0.308] Coefficient Standard Error 0.36068 0.077280 LM 0.45447 0.097363 LE 0.48751 0.061017 LF -0.41208 0.085800 LT 0.19057 0.079744 0.52521 0.500320 where, Y = Economic growth K = Capital M = Employment E = Electricity consumption F = Foreign direct investment T= Technology %3D %3D

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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