Econometrics Final Exam for 3rd Year Students (GECO & GADE), Exámenes de Economía Financiera

¡Descarga Econometrics Final Exam for 3rd Year Students (GECO & GADE) y más Exámenes en PDF de Economía Financiera solo en Docsity! - 1 - ECONOMETRICS - FINAL EXAM, 3rd YEAR (GECO & GADE) June 25, 2015 – 15:30 First family name: Second family Name: Name: ECO/ADE: DNI/ID: Instructor: Mobile: E-mail: Question 1 A B C Blank Question 2 A B C Blank Question 3 A B C Blank Question 4 A B C Blank Question 5 A B C Blank Question 6 A B C Blank Question 7 A B C Blank Question 8 A B C Blank Question 9 A B C Blank Question 10 A B C Blank Question 11 A B C Blank Question 12 A B C Blank Question 13 A B C Blank Question 14 A B C Blank Question 15 A B C Blank Question 16 A B C Blank Question 17 A B C Blank Question 18 A B C Blank Question 19 A B C Blank Question 20 A B C Blank Correct Incorrect Blank Final grade - 2 - INSTRUCTIONS The exam includes 20 questions. Choose your answer to each question by checking one and only one box per question in the template that you will find in the first page. If you want to leave any question unanswered, check the "Blank" option. This template is the only part of this exam that will be graded. A correct answer adds 2 points to the final grade while an incorrect one subtracts 1 point. A blank answer does not add or subtract. The final grade is the number of points divided by 4. Do not unclip the sheets. Use the blank space in the following pages to write notes or to do arithmetic calculations. YOU HAVE ONE HOUR TO ANSWER THIS TEST - 5 - Question 9. About models [A] and [B]: A) Model [B] is not well specified because it omits a relevant quarterly variable B) Both models can be estimated by OLS C) Model [A] cannot be estimated by OLS because it has exact collinearity Question 10. In model [B], the null that the relationship between employment and real wage is the same in the four quarters can be written as: A) 1 2 3    B) 1 2 3 0     C) 1 2 3 4 0       Question 11. . In model [B], the null that the elasticity of employment with respect to real wage in the 3rd quarter is the same as that in the 4th quarter can be written as: A) 3 0  B) 4 0  C) 3 4 0   Questions 12 to 16 refer to the following case. A regression model relates the (log) annual wage of 50 workers (denoted by l_salary) with the following explanatory variables: gpa: Grade Point Average (in a 1-4 scale); metrics: dummy variable which value is 1 if the worker took an Econometrics course, and 0 otherwise, and female: a dummy variable which value is 1 if the worker is female and 0 otherwise. Table 1 summarizes the main estimation results. Table 1 Model: OLS, using observations 1-50 Dependent variable: l_salary Coefficient Std. Error t-ratio p-value const 10.1143 0.0361476 279.8064 <0.00001 gpa 0.0553222 0.0118125 4.6834 0.00003 metrics ----------- 0.0152609 10.5878 <0.00001 female -0.00648859 0.0139065 -0.4666 0.64300 Sum squared resid 0.105695 S.E. of regression 0.047935 R-squared 0.728219 Adjusted R-squared 0.710495 F(3, 46) ---------- P-value(F) 4.59e-13 Log-likelihood 83.03358 Akaike criterion -158.0672 Schwarz criterion -150.4191 Hannan-Quinn -155.1547 - 6 - Question 12. According to the results in Table 1: A) Taking an Econometrics course has a positive and statistically significant effect (at the 5% significance level) on the annual wage. B) Taking an Econometrics course has a positive but not statistically significant effect (at the 5% significance level) on the annual wage. C) Taking an Econometrics course has a negative and statistically significant effect (at the 5% significance level) on the annual wage. Question 13. According to the results in Table 1 the expected difference between the wages of two individuals, one of whom took an Econometrics course and another one who did not, being identical the other factors, is (Note: use all the available decimals in your calculations). A) 16.158% B) 0.16158 dollars/year C) 0.16158% Question 14. According to the results in Table 1 the test for global significance of all the slopes implies that (Note: use all the available decimals in your calculations): A) The null cannot be rejected at a 5% significance level because the value of the corresponding F-statistic is 4.109 B) The null must be rejected at a 1% significance level because the value of the corresponding F-statistic is 41.085 C) The null must be rejected at a 10% significance level because the value of the corresponding F-statistic is 33.498 Question 15. According to the results in Table 1 the estimated wage (in log) of a male individual who did not take the Econometrics course and has a GPA of 2 points is (Note: use all the available decimals in your calculations): A) 10.225 B) 20.344 C) 10.114 Question 16. We have estimated by OLS a model alternative to that in Table 1, where we suppressed the variable female. If the Akaike and Schwarz Information criteria in this model are -159.831 and -154.095, respectively, then: - 7 - A) According to Akaike’s criterion the model in Table 1 should be preferred to the new model, where the variable female is omitted B) According to Schwartz’s criterion the model in Table 1 should be preferred to the new model, where the variable female is omitted C) According to both, Akaike’s and Schwartz’s criteria, the new model (where the variable female is omitted) should be preferred to the model in Table 1 Question 17. The model 0 1i i iY X U    is such that   2 2 1 var i i U Z  . In which of the following models the errors iV are homoscedastic? A) 0 1 1i i i i i i Y X V Z Z Z       B) 0 1i i i i i iY Z Z Z X V        C) None of the above Question 18. The model 0 1 1 2 2i i i iY X X U      has been fitted by OLS to a sample of 63 individuals. The econometrician suspects that the observations corresponding to the first 6 individuals in the sample could be influential, so he computed the Cook statistic for each one of them. Individual Cook Statistic ( iD ) 1 1.48 2 2.27 3 1.09 4 2.50 5 4.65 6 2.98 Knowing that [ (3,60) 2.76] 0.05Prob F   , we can conclude that: - 10 - OPERACIONES - 11 - ECONOMETRICS - FINAL EXAM, 3rd YEAR (GECO & GADE) June 25, 2015 – 15:30 First family name: Second family Name: Name: ECO/ADE: DNI/ID: Instructor: Mobile: E-mail: Question 1 A B C Blank Question 2 A B C Blank Question 3 A B C Blank Question 4 A B C Blank Question 5 A B C Blank Question 6 A B C Blank Question 7 A B C Blank Question 8 A B C Blank Question 9 A B C Blank Question 10 A B C Blank Question 11 A B C Blank Question 12 A B C Blank Question 13 A B C Blank Question 14 A B C Blank Question 15 A B C Blank Question 16 A B C Blank Question 17 A B C Blank Question 18 A B C Blank Question 19 A B C Blank Question 20 A B C Blank Correct Incorrect Blank Final grade