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Would you like to change to the United States site? This is a dummy description.This is a dummy description.This is a dummy description.This is a dummy description.Explains what is going on in textbooks full of proofs and formulas Offers intuition, skepticism, insights, humor, and practical advice (dos and don’ts) Contains new chapters that cover instrumental variables and computational considerations Includes additional information on GMM, nonparametrics, and an introduction to wavelets In addition to A Guide to Econometrics, he is author of Macroeconomic Essentials: Understanding Economics in the News, 2e (2000), and is Associate Editor of the International Journal of Forecasting, the Journal of Economic Education, and Economics Bulletin. General Notes. Technical Notes. 7. Violating Assumption Two: Nonzero Expected Disturbance. General Notes. 8. Violating Assumption Three: Nonspherical Disturbances. 8.1 Introduction. 8.2 Consequences of Violation. 8.3 Heteroskedasticity. 8.4 Autocorrelated Disturbances. 8.5 Generalized Method of Moments. General Notes. Technical Notes. 14. The Bayesian Approach. 14.1 Introduction. 14.2 What Is a Bayesian Analysis?. 14.3 Advantages of the Bayesian Approach. 14.4 Overcoming Practitioners’ Complaints. General Notes. Technical Notes. 15. Dummy Variables. 15.1 Introduction. 15.2 Interpretation. 15.3 Adding Another Qualitative Variable. 15.4 Interacting with Quantitative Variables. 15.5 Observation-specific Dummies. General Notes. Technical Notes. 21. Robust Estimation. 21.1 Introduction. 21.2 Outliers and Influential Observations. 21.3 Guarding Against Influential Observations. 21.4 Artificial Neural Networks. 21.5 Non-parametric Estimation. General Notes. Technical Notes. 22. Applied Econometrics. 22.1 Introduction. 22.2 The Ten Commandments of Applied. Econometrics. 22.3 Getting the Wrong Sign. 22.4 Common Mistakes. 22.5 What Do Practitioners Need to Know?. General Notes. Technical Notes. 23. Computational Considerations. 23.
1 Introduction. 23.2 Optimizing via a Computer Search. 23.3 Estimating Integrals via Simulation. 23.4 Drawing Observations from Awkward Distributions. General Notes. Technical Notes. Appendix A: Sampling Distributions, the. Foundation of Statistics. Appendix B: All about Variance. Appendix C: A Primer on Asymptotics. Appendix D: Exercises. Appendix E: Answers to Even-numbered Questions. Glossary. Bibliography. Name Index. Subject Index. The 13-digit and 10-digit formats both work. Please try again.Please try again.Please try again. Used: GoodMay have signs of wear and previous use(scuffs, creasing, library copy, highlighting, writing and underlining). Dust jacket may be missing.Something we hope you'll especially enjoy: FBA items qualify for FREE Shipping and Amazon Prime. Learn more about the program. Explains what is going on in textbooks full of proofs and formulas Offers intuition, skepticism, insights, humor, and practical advice (dos and don’ts) Contains new chapters that cover instrumental variables and computational considerations Includes additional information on GMM, nonparametrics, and an introduction to wavelets Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required. Show details. Sold by Discover books and ships from Amazon Fulfillment.In order to navigate out of this carousel please use your heading shortcut key to navigate to the next or previous heading. In order to navigate out of this carousel please use your heading shortcut key to navigate to the next or previous heading. Register a free business account Now in its sixth edition, this guide brings practitioners and researchers up to date on the popular techniques in estimation. It holds a unique position among econometric texts. Highly recommended.” ( Choice, November 2008)It explains what is going on in textbooks full of proofs and formulas.
Kennedy’s A Guide to Econometrics offers intuition, skepticism, insights, humor, and practical advice (dos and don’ts). The sixth edition contains new chapters on instrumental variables and on computation considerations, more information on GMM and nonparametrics, and an introduction to wavelets.It explains what is going on in textbooks full of proofs and formulas. Kennedy’s A Guide to Econometrics offers intuition, skepticism, insights, humor, and practical advice (dos and don’ts). The sixth edition contains new chapters on instrumental variables and on computation considerations, more information on GMM and nonparametrics, and an introduction to wavelets.In addition to A Guide to Econometrics, he is author of Macroeconomic Essentials: Understanding Economics in the News, 2e (2000), and is Associate Editor of the International Journal of Forecasting, the Journal of Economic Education, and Economics Bulletin.To calculate the overall star rating and percentage breakdown by star, we don’t use a simple average. Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. It also analyzes reviews to verify trustworthiness. Please try again later. quant1 5.0 out of 5 stars Greene's text was full of rambling and formulas with absolutely no explanation of what any of it meant. Greene was assigned text in my grad econometrics class and it was absolutely useless. So on a friend's suggestion, I bought Kennedy's text and aced my class without a problem. Kennedy takes his time explaining the absolutely crucial parts. He goes through several mistakes and pitfalls one can make in the field in careful detail (Violating assumptions chapters). His book also has a great introduction to bootstrapping which is widely used in later applied courses and seminars. One subject I wish he gave more detail on would be robust estimation. I felt the chapter was very short and he could have gone into the subject in more detail.
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All in all, an excellent introduction to the field of econometrics. It also makes a fantastic reference book for when you are working in the private sector. I have used this book as a reference in the following classes: - Statistical Inference - Econometrics - Applied Microeconometrics (markov chain monte carlo methods) Background: I have a MS in Math and a MA in Economics and work as a quant at an investment bankThe two most influential proponents of this view were the social statistics luminaries Hubert Blalock and Otis Dudley Duncan. Blalock was more optimistic than Duncan with regard to the ultimate payoff, but Duncan was more arrogantly dismissive of those who failed to heed his admonition. In response, sociology and related social science journals became much more densely quantitative. Many social scientists, as a result, felt as if they had been reduced to obslescence. After all, econometrics and the other new quantitative tools, especially path analysis, which had come to dominate the discipline were difficult topics under the best of circumstances, and most social scientists lacked the mathematical training to tackle the best known econometrics texts, such as those by Jack Johnston, Jan Kmenta, and Arthur Goldberger. Many social scientists had been introduced to the econometrics mainstay, regression analysis, but not in this highly technical form. Fortunately, the decade of the '70's also saw publication of Damodar Gujarati's introductory econometrics text, as well as the first edition of Peter Kennedy's Guide to Econometrics. Gujarati's book presented much the same material as his more insistently mathematical colleagues, but in a much more accessible form. His book could actually be used for self-instructional purposes, enabling less methodologically astute social scientists to finally figure out what was going on.
Kennedy's book was a forest-for-the-trees antidote to the mathematically dense and detailed texts, a book that enabled social scientists and other readers to identify topics that were of central importance and those that were ancillary details. As with Gujarati, Kennedy wrote in accessible language and provided motivated readers with an overview of econometrics, enabling them to see what all the fuss was about. By including general notes and technical notes at the end of each chapter, Kennedy assured that his book was of value not not only to those of us who were less mathematically favored, but to those for whom use of econometrics was an everyday activity, one they had pretty well mastered. In additon, while the first edition of Kennedy's book ran 175 pages, the most recent (sixth) edition is a full 575 pages. This reflects the fact that, while the book continues to provide an accessible overview of econometrics, it is also a comprehensive catalogue of regression analysis correctives. Kennedy explicitly acknowledges that his objective is to compile an accessible repository of the rapidly growing list of tests and procedures available to make regression analysis more generally applicable and informative. Anyone interested in the history of econometrics over the past forty years would do well to begin with Kenndy's book. Even for those of us for whom this stuff does not come easily, Kennedy's text is an invaluable reference. For the newcomer, it remains a fine overview of econometrics and a useful adjunct to any basic text. When the seventh edition comes out, it will be interesting to see what Kennedy makes of the near-obsessive concern with instrumental variable methods of causal analysis as presented, for example, in Angrist and Pischke's Mostly Harmless Econometrics. As an addendum, Peter Kennedy is no longer with us, so unless his publisher recruits a co-author, I assume there will be no seventh edition.
Finding a co-author as dedicated, knowledgeable, and who writes as well as Kennedy would be a tough job.This is like a personal tutor who can explain concepts and more importantly, limitations of econometrics in practice, with words. If you can sense that your econometrics class is simple in principle but is being hidden underneath a bunch of math, don't hesitate one more second in buying this book. I read it on the train a lot and found that it helped immensely. Many econometrics classes provide general models or theories and expect you to figure out which models are just specific cases of the general model. Kennedy skips this step and just tells you in English which is refreshing and builds confidence. Even for a beginner 'metrics class, I would recommend this text because the most important thing to learn about OLS is its limitations. Where most texts assume away inconveniences, Kennedy shoots straight.Very clear and well-written. Kennedy breaks down the concepts very well. You can actually use this book to teach yourself econometrics. Highly recommended as a supplement to other econometric texts. I always used to read Kennedy if I got stuck on Hayashi or other econometrics text books.I describe this book as the one I read on the front porch with a cup of coffee. What was the last statistics book you could enjoy like that (AND still learn something). Some reviews say that this book is superficial - not really. Kennedy specifically cites reference texts where you can go for further details. I actually find his book more insightful, and it was the reason I could understand the equations, rather than superficially memorizing them. He tells you what the inverse mills ratio does in a Tobit model, rather than just writing out it's Greek letters and assuming you are such a calculus wiz that you will know what it does.It's kind of a hual, but it's well worth it. Kennedy helps to break down the confusion using visuals and clear explanations.
I would leave that task up to Wooldridge’s Introductory Econometrics, which provides a far more basic view of the subject for bears of little brain such as me. However, armed with a little knowledge, which as we know can be a dangerous thing, Kennedy’s Guide helps cut through the necessary simplifications and assumptions provided to beginners to enable a more nuanced, perhaps realistic, view. The author systematically examines the basics, identifies potential complications and pitfalls, and offers solutions. Each chapter is divided into three, beginning with the essential understanding, progressing to a discussion of the finer points and where further information may be obtained in the academic literature, and on to an exposition of the finer technical details. The style is unavoidably technical at times, but the author manages to avoid disappearing up his own syntax, meaning that there are no points at which it is necessary to wrangle with the intricacies of a sentence. There is also a lightness of touch to the style, combined with some occasional light-hearted, self-deprecating discussion of the perils of statistical analysis if the principles are applied unthinkingly. In many ways what it amounts to is a Philosophy of Econometrics, examining how econometrics applies to the real world but also highlighting the possibility of its misuse in the wrong hands. Amongst other things he is quite scathing of theory-free data mining, in which a large number of regressions are run in the search for significant t stats, in which there is a high risk of type I errors (false positives). So, while not my ideal starting point, definitely a book to be read second or, if you’re in a hurry, in parallel with a more basic text.I only missed some more detailed illiustrations or pictures to clarify the more complicated topics.
But otherways this iis perfect book to get more comprehensive understanding of econometricsHowever, sometimes I need to run a regression or look up for some concepts (robust procedures, qualitative variables, etc). I think that Kennedy's book is great because it reviews the main topics at three different levels. Each chapter has like 3 different parts: the first one provide the intuition and the main idea (which can be useful is you have some doubts), the second one introduces some notation (very useful if you need to formalize the problem) and the last one deals with harder topics and provide references about what has been done in the field. Really nice book!Ma copre sicuramente cio di cui uno studente di dottorato in economia ha bisogno! (prima di andare in cose tecniche) Riposa in pace professore Kennedy, hai fatto un ottimo lavoro!Page 1 of 1 Start over Page 1 of 1 In order to navigate out of this carousel please use your heading shortcut key to navigate to the next or previous heading. The 13-digit and 10-digit formats both work. Please try again.Please try again.Please try again. Used: GoodSomething we hope you'll especially enjoy: FBA items qualify for FREE Shipping and Amazon Prime. Learn more about the program. It provides an overview of the subject and an intuitive feel for its concepts and techniques without the notation and technical detail that characterize most econometrics textbooks. The fifth edition has two major additions, a chapter on panel data and an innovative chapter on applied econometrics.
Existing chapters have been revised and updated extensively, particularly the specification chapter (to coordinate with the applied econometrics chapter), the qualitative dependent variables chapter (to better explain the difference between multinomial and conditional logit), the limited dependent variables chapter (to provide a better interpretation of Tobit estimation), and the time series chapter (to incorporate the vector autoregression discussion from the simultaneous equations chapter and to explain more fully estimation of vector error correction models). Several new exercises have been added, some of which form new sections on bootstrapping and on applied econometrics. This edition is for sale in all of the Americas, the West Indies, and U.S. dependencies only. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required. In order to navigate out of this carousel please use your heading shortcut key to navigate to the next or previous heading. In order to navigate out of this carousel please use your heading shortcut key to navigate to the next or previous heading. Register a free business account I first used it as a student, and now I find it indispensable as a professor. I first used it as a student, and now I find it indispensable as a professor.The text is clearly written and shows the author's excellent understanding of the material covered. And his clever insights and witty comments make the book fun to read. ? Jan Kmenta, Professor Emeritus of Economics, University of MichiganTo calculate the overall star rating and percentage breakdown by star, we don’t use a simple average. Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. It also analyzes reviews to verify trustworthiness. Please try again later. B. S. 5.
0 out of 5 stars It's definitely an old standby, and it's useful for trying to figure out lots of statistics in a very good theoretical manner. As somebody who is pretty weak in statistics, this book definitely gave some very clear explanations of a whole slew of statistical methods for analyzing data sets, so I'd say it's useful even to non-econometricians as well as its intended audience of econometricians.Like most efforts to model phenomena in the real world, especially those that attempt to model the behavior of human agents, econometrics has had its share of critics. These critics pointed out some of the failures of the econometric models, and some of their criticism was justified. However, there have been successes as well, if one realizes that the success of a model should be determined by what a model is actually developed for. The author of this book is fully aware of what modeling is all about, and gives a very interesting overview of the major mathematical techniques used in econometrics. He characterizes econometrics as a study of how to obtain a good estimator in a situation or problem at hand that must be estimated. The author gives detailed discussions of these criteria in the book, and throughout most of the book more detailed mathematical derivations take place in the notes at the end of each chapter. The discussions can be a bit wordy at times in places outside of the notes for this reason. The book includes of course discussions on least squares, nonlinear regression, and Bayesian estimation of parameters. These are all topics that are fairly standard in the literature, but the author also includes discussions on topics such as neural networks and kernel estimation. An extensive list of exercises is included at the end of the book.
No guide on econometric techniques would be complete without a discussion on how to analyze time series, and in this one that author points out the differences between how econometricians analyze time series and how traditional time series analysts do. The arrival of studies indicating problems with the approaches of the econometricians resulted in an explosion of research activity, some of which is reviewed by the author. This includes discussions of the Box-Jenkins method, ARIMA (autoregressive integrated moving average) models, VAR (vector autoregression), and error-correction (ECM) models. Interestingly, and close to the truth in practice, the author views model selection as being an art form, the correct choice of which is highly dependent on the experience of the modeler. When SEMSTA is simplified by omitting the moving average component, one obtains the VAR model. The author discusses in some detail the controversies behind the use of VAR, due to its assumption that all variables be endogenous. Both the ARIMA and VAR models are viewed as being successful in econometrics due to their ability to deal with the dynamics of the economy, even though they ignore the role of long-run equilibria. When terms are included in these models to represent the extent to which the long-run equilibrium is not met, one obtains the error-correction models. The author discusses an explicit example of how to obtain an ECM representation when there is linear relation occurring in the long run. The author also gives a brief outline of forecasting techniques in econometrics and how to assess their accuracy. He emphasizes that the choice of how to evaluate the accuracy of the forecasting model depends on the actual purpose of the forecast. If a large degree of error can be tolerated, this may motivate the choice of one criterion for accuracy over another. Unfortunately forecasting is viewed by many as an activity that should guarantee high or even infinite accuracy.
Other than a brief discussion on neural networks, the use of machine intelligence to do forecasting is not discussed in the book. It is becoming more popular to use artificial intelligence in forecasting, but it remains to be seen whether using it is more advantageous than simulation or Monte Carlo techniques, both of the latter being dependent essentially on randomization and requiring minimal intelligence.He presents the mathematical and statistical information in clear, concise language. A wonderful AND informative read!!Page 1 of 1 Start over Page 1 of 1 In order to navigate out of this carousel please use your heading shortcut key to navigate to the next or previous heading. Today we publish over 30 titles in the arts and humanities, social sciences, and science and technology. Cambridge, MA 02139. Today we publish over 30 titles in the arts and humanities, social sciences, and science and technology. Cambridge, MA 02139I first used it as a student, and now I find it indispensable as a professor. I would not dream of teaching an econometrics course without it. Lisa A. Keister Department of Sociology, The Ohio State University It provides an overview of the subject and an intuitive feel for its concepts and techniques without the notation and technical detail that characterize most econometrics textbooks. The fifth edition has two major additions, a chapter on panel data and an innovative chapter on applied econometrics.
Existing chapters have been revised and updated extensively, particularly the specification chapter (to coordinate with the applied econometrics chapter), the qualitative dependent variables chapter (to better explain the difference between multinomial and conditional logit), the limited dependent variables chapter (to provide a better interpretation of Tobit estimation), and the time series chapter (to incorporate the vector autoregression discussion from the simultaneous equations chapter and to explain more fully estimation of vector error correction models). Several new exercises have been added, some of which form new sections on bootstrapping and on applied econometrics. This edition is for sale in all of the Americas, the West Indies, and U.S. dependencies only. I first used it as a student, and now I find it indispensable as a professor. I would not dream of teaching an econometrics course without it. Lisa A. Keister Department of Sociology, The Ohio State University Anders Olofsgard Georgetown University It is an excellent complement to standard econometrics textbooks, which tend to be heavy on mathematics and technique, and light on practical advice. T.H. Gindling Department of Economics, University of Maryland Baltimore County The text is clearly written and shows the author's excellent understanding of the material covered. And his clever insights and witty comments make the book fun to read. Jan Kmenta Professor Emeritus of Economics, University of Michigan. Groups Discussions Quotes Ask the Author This overview has enabled students to make sense more easily of what instructors are doing when they produce proofs, theorems and formulas. To see what your friends thought of this book,Statistics are more abused than used, which renders this book a superior reference against common-day abuses. Use a good undergrad book, this and book like Goldberger to supplement your undoubtedly unreadable PhD level textbook.
This book has an awful lot of words but very few examples of how to apply many of techniques in practice, so often it doesn't really help when you have a confusion that you're trying to clear up. If William Greene 's Econometric Analysis is too mathematical, at least it has good examples of how to apply that math and sometimes the ma This book has an awful lot of words but very few examples of how to apply many of techniques in practice, so often it doesn't really help when you have a confusion that you're trying to clear up. If William Greene 's Econometric Analysis is too mathematical, at least it has good examples of how to apply that math and sometimes the math can yield good intuition. This book certainly doesn't claim to be the most rigorous text and so I don't judge it as such, but it also provide very little value if what you seek is intuition. Better to skip it and find another book. If it's not in your bookshelf, then you can't call yourself an econometrician. If it's not in your bookshelf, then you can't call yourself an econometrician. Highly reccomended. The author does a good job explaining things conceptually. This will be something I buy and keep for a reference! There are no discussion topics on this book yet. This textbook is the perfect (and essential) supplement for all econometrics classes--from a rigorous first undergraduate course, to a first master's, to a PhD course. It explains what is going on in textbooks full of proofs and formulas. Kennedy’s A Guide to Econometrics offers intuition, skepticism, insights, humor, and practical advice (dos and don’ts). The sixth edition contains new chapters on instrumental variables and on computation considerations, more information on GMM and nonparametrics, and an introduction to wavelets. Simply click on the file you'd like to download. Click here to view a sample chapter, full details and contents list. All files are in PDF format. Condition: Good. 1st MIT Press ed.
Shows some signs of wear, and may have some markings on the inside.Condition: Good. 1st MIT Press ed. Shows some signs of wear, and may have some markings on the inside.Condition: Good. 2nd ed. Shows some signs of wear, and may have some markings on the inside.Condition: Very Good. 3rd. Former Library book. Great condition for a used book.Condition: Good. 3rd. Shows some signs of wear, and may have some markings on the inside.Condition: Very Good. 3rd. Great condition for a used book.May contain limited notes, underlining or highlighting that does affect the text. Possible ex library copy, will have the markings and stickers associated from the library. Accessories such as CD, codes, toys, may not be included.Condition: Fair. Acceptable condition. 3rd edition. Highlighting inside.Condition: Good.. 3rd edition. A copy that has been read but remains intact. May contain markings such as bookplates, stamps, limited notes and highlighting, or a few light stains.Light rubbing wear to cover, spine and page edges. Very minimal writing or notations in margins not affecting the text. Possible clean ex-library copy, with their stickers and or stamp(s).Light rubbing wear to cover, spine and page edges. Very minimal writing or notations in margins not affecting the text. Possible clean ex-library copy, with their stickers and or stamp(s).Satisfaction Guaranteed. Book is in Used-Good condition. Pages and cover are clean and intact. Used items may not include supplementary materials such as CDs or access codes. May show signs of minor shelf wear and contain limited notes and highlighting.Pages are intact and are not marred by notes or highlighting, but may contain a neat previous owner name. The spine remains undamaged. Supplemental materials are not guaranteed with any used book purchases.Contains some markings such as highlighting and writing. Supplemental materials are not guaranteed with any used book purchases.