1. Which of the following is not true? A) when a series has the same average...

1. Which of the following is not true?

A) when a series has the same average growth rate from period to period, then it can be approximated by including trend in a regression.

B) dummy variables can be used to address the problem of seasonality in regression models.

C) yt = α0 + β0st + β1st−1 + β2st−2 + β3st−3 +ut , it is possible to estimate long-run effect of change in st on yt .

D) serial correlation of the error term in time series regression invalidates the estimates and t-values of the estimates.

E) including time trend in a time series regression is equivalent to detrending all the dependent variable but not the independent variables.

2. If an explanatory variable is strictly exogenous it implies that:

A) changes in the lag of the variable does not affect future values of the dependent variable.

B) the variable is correlated with the error term in all future time periods.

C) the variable cannot react to what has happened to the dependent variable in the past.

D) the conditional mean of the error term given the variable is zero.

E) none of the above

Expert Solution

orchestra answered 2 years ago

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