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Welcome to econistics.com a website of Econistics Research and Consulting. This blog is designed to address the dilemma of interpreting different forms of controlling variables. Here this illustration will cover the three types of control variables which can be placed in the functional form in 3 ways. Placement in Functional Form Type of Control variable
Specification of Control Variables – Qualitative variable case Read More »
In continuation of the discussion on selecting control variables. One can also focus on adding dummy variables based on country composition, regime change, or structural break (for the case of time series data), also indicators like demographics, control and focus group (for the case of cross sectional data) can be used. They usually increase stability
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In continuation of the discussion on selecting control variables. Another way to set control variables is to split the model into demand and supply model. This approach is coined as demand supply equilibrium modelling using simultaneous equation approach. Popular examples of such models include (Afzal, 2000; Goldstein & Khan, 1978). The advantage of this approach
Control Variables – Demand – Supply Model Read More »
In the realm of big data, researchers are facing issues in managing excel files of different data sets manually before entering them into the data set. Likely World Bank has provided a solution. The TCData360 platform has provided a integrate-able link to many of the available data sets. We can download the latest data in
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In continuation of the discussion on selecting control variables. For the case when there are too many variables have been found to be used as control variables, then we can divide them intro groups of social, economic, or financial variables and shorten them (using Factor Analysis) make indices of them (using Structure Analysis). This approach
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In continuation of the discussion on selecting control variables. Moderation approach is used when two different variables co-influence the dependent variable, or each one of them determine the marginal effect of other one (Hayes, 2017). In economics it is called catalyst effect or cross product effect. There are two types of moderation which we can
Control Variables – Moderator Approach Read More »
One of the common problem with starting new student papers, thesis and research papers is that, the selection of topic may guide in selection of the main independent variable and/or the dependent variable but selection of other controlling variables are haphazard, without have thought process leading to lack of relevancy with the topic / paper
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In continuation of the discussion on selecting control variables. In disaggregation approach we decompose GDP into its sub components to increase number of independent variables rather than using GDP itself. Strategy 2a: Sector-wise Disaggregation The first type is the use of sector wise decomposition of GDP i.e. industry agriculture and services. It will help to identify
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In continuation of the discussion on selecting control variables. If your dependent variable is social, economic or financial then it is closely related to economic activity (GDP), and since GDP is related to every other variable, so you can use the most common model of GDP to find controls for your model i.e. Growth theory. Hence
Control Variables – Growth Theory Channel Read More »