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Introduction to Econometrics 3rd Edition by James Stock, Mark Watson
Edition 3ISBN: 978-9352863501Introduction to Econometrics 3rd Edition by James Stock, Mark Watson
Edition 3ISBN: 978-9352863501 Exercise 7
Provide an example of a regression that arguably would have a high value of R 2 but would produce biased and inconsistent estimators of the regression coefficient(s). Explain why the R 2 is likely to be high. Explain why the OLS estimators would be biased and inconsistent.
Explanation
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The value of R-square is used to measure...
Introduction to Econometrics 3rd Edition by James Stock, Mark Watson
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