Econometrics Assignment Solved

Added on - 11 Nov 2020

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ECONOMETRICS
TABLE OF CONTENTSQUESTION 3...................................................................................................................................1(a) Deleting observations who are not paid.................................................................................1(b) Creating variable School and Wage along with other variable's descriptive statistics.........1(c) Drawing histogram of wage and lwage.................................................................................2(d) Extracting mean and median for both wage and lwage.........................................................3(e) Listing assumptions under which estimated obtained through OLS are unbiased bypresenting the outcome...............................................................................................................4(f) Application of log wages instead of wages............................................................................6(g) Interpretation of y1................................................................................................................7(h) Marginal effects.....................................................................................................................7(I) Estimating linear regression model by OLS where lwage is constant...................................9(j) Creating confidence interval of 95% for percentage return to additional year of schooling...................................................................................................................................................10(l) Testing that null hypothesis that ethnicity does not plays role to explore log wage rate.....10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
QUESTION 3(a) Deleting observations who are not paidThe above table is articulated total paid work as 1 coded individuals is a wage sectorworker and 0 codes are the one who does not belong to wage sector worker. After, deletingobservations who do not do any paid work are 1692.(b) Creating variable School and Wage along with other variable's descriptive statisticsVariableObsMeanStd. Dev.MinMaxPaidwork87480.3863740.486945801lwage87480.29830990.5974387-3.376884.208274men87480.47702330.499500301malay87480.47668040.499484401chinese87480.28440790.451157701indian87480.23891180.426443101age874833.6236913.429691565agesq874813.1088810.207482.2542.25gexpr874820.4833115.83856059gesprsq87486.7039748.431564034.81yprim87484.8984912.07683306ysec87482.2439412.494018014fail87480.15877910.365490901School87487.1424333.9341280201
Wage87482.9830995.974387-33.768842.08274The above table is stating descriptive statistics of variables within 8748 observations afterdropping variables urban, unearn, househ, amtland and unearnx with drop command in stata.(c) Drawing histogram of wage and lwageHistogram of WageHistogram of lwage2
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