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In this paper, you are asked to retrieve the data for South Korea (for the Cobb-Douglas Production Function) from D2L in excel. You must generate the logs of L, K, and RGDP. After gathering all the required information you are asked to interpret the coefficients, check whether the dummy variable is statistically significant and finally present the regression results for men and women.
Assignment # 4
Then run a multiple regression with the command: ly c ll lk
a) Interpret the coefficients on ll and lk, and adjusted R-square.
b) Examine at the 1% significance level, based on the p-value method, whether the coefficients on ll and lk are significant.
Note: After running regression for question 1, select “View” and “coefficient diagnostic “ test, and Wald test and then type: C(2) + C(3) =1
The file has the following variables: Age, Gender, Exp (experience), WS ( wages and salaries), and Edu( years of education).
Note: in the original there is a variable called Gender which has a value of 1 for men and 2 for women. To create a file for men, click filter and gender. In the relevant place, choose gender< 2. To create a file for women you will choose >1.
Import the file for men , generate log of ws, called lws and also generate the square of age, called age2, and square of Exp, called EXP2 and then run the following regressions:
Lws c age age2 edu ( for men)
Lws c age age2 edu ( for women)
Compare the results.
Lws c Exp Exp2 edu ( for men)
Lws c Exp Exp2 edu ( for women)
Generate a dummy variable, called dummy in Eviews:
Dummy = (gender
Run the following regression model:
Lws c exp exp2 dummy edu
a) Interpret the coefficients on EXP, Exp2, and Edu and the Dummy variable. Check whether the dummy variable is statistically significant at the 5% level based on the p-value method.
b) Write the regression results separately for men and women.