Question

In: Economics

You want to develop a regression model about the 2004 presidential election. The objective is to...

You want to develop a regression model about the 2004 presidential election. The objective is to explain percentage of votes received by the Democratic candidate in each state. The explanatory variables are:

(i) unemployment rate in each state,

(ii) gender dummy (female =1 and male = 0),

(iii) a dummy variable for Bill Clinton’s appearance in the state to campaign,

(iv) an interaction term between the gender dummy and the Clinton dummy.

You want to consider a variety of models. Model I contains the variables in (i) and (ii). Model II contains the variables in (i), (ii), and (iii). Model III contains the variables in (i), (ii), (iii) and (iv).

  1. Write down each of the above three regression models. Be sure to define all notations.
  2. Interpret all the coefficients in Model III.
  3. Using Models II and III, indicate how you would test the following hypotheses. Be sure to write down the null hypothesis, restricted and unrestricted models, etc.
    1. Unemployment doesn’t matter.
    2. Clinton’s appearance had no effect.
    3. Clinton’s appearance had same effect for both males and females.

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