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EViews

EViews. Student Version. Today’s Workshop. Basic grasp of how EViews manages data Creating Workfiles Importing data Running regressions Performing basic tests Creating/changing Series Working with commands. Thinking About EViews.

edan-schneider
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EViews

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  1. EViews Student Version

  2. Today’s Workshop Basic grasp of how EViews manages data Creating Workfiles Importing data Running regressions Performing basic tests Creating/changing Series Working with commands

  3. ThinkingAbout EViews *Always comes with series for a constant, c, and residuals, resid • Workfile Central place to keep all of your work • Objects • Series (Numeric, no alpha series in student version) • Equations • Graphs • Groups

  4. Workfiles • Creating a Workfile • File → New → Workfile • Data Structure Time Series → Dated/Regular → Frequency + Date Range Cross-Sectional → Undated/Irregular → Range of observations • Save & Name (do not have to do this for this exercise) • New Pages (Eviews 6) • By clicking on the “New Page” label at the bottom of the Workfile you can create new pages • Select “By Frequency”

  5. Exercise #1 • Open the Excel file EViewsLab_data.xls, we will be working with the “Macro” sheet • Create a new Workfile for today’s workshop

  6. Importing Data • Copy/Past Method 1. Open new “Empty Group” • Quick → Empty Group • Click on Cell 1 and press the “Up” arrow on keyboard → 2. Open Excel • Make sure variable names are one constant “String” (no spaces!) • Troubleshoot for other problems 3. Copy Data 4. Paste into Eviews Cell 1

  7. Exercise #2 • Import data Series from Excel sheet 1: Macro

  8. Importing Data • Import Directly • Count the number of variables and CLOSE Excel file • Proc →Import →Read Text-Locus-File • Browse for Excel file

  9. Exercise #3 Create a new page in the Workfile for the unstructured data in the “Micro” sheet Import, directly, the data from the “Micro” sheet

  10. Descriptive Statistics • Group • Stores select series together • Object → New Object → Group → Select Series → Name • Descriptive Statistics • When group spreadsheet is open: • View → Descriptive Statistics → Common Sample → Correlogram

  11. Exercise #3 • Create a group for you INDEPENDENT variables (hint: consumption is your dependent variable) • Find the Standard Deviation for each variable • Run a correlation matrix of independent variables to determine if you might have multicolinearity (hint: look if off-diagonal absolute values are bigger than 0.5)

  12. Regressions Separated by spaces: *Dependent variable *Constant, c *Independent variables (or Group) Type of Regression Sample Range • Create a new Equation • In your Workfile: • Object → New Object → Equation

  13. Regression Tests & Fixes Estimate: Modify Regression • Output • Name = Save to Workfile Useful to Create Model To Run Tests Regression Summary This View Coefficient Summary SAVE! Statistics

  14. Regression Tests & Fixes • Looking at Residuals • In Equation View: • View → Actual, Fitted, Residual → Actual, Fitted, Residual Table • Plotting Resid Vs. Fitted Values • Generate fitted values • In Equation View: “Forecast” → OK (is named “variable”f) • In Workfile: Object → New Object → Graph • Graph: resid “variable”f • Options → Type → Scatter

  15. Regression Tests & Fixes • Heteroskedasticity • In Equation View: • View → Residual Tests → White Heteroskedasticity (no cross) • Look at Chi-square value from a table (want a small value) • Fix: Click on “Estimate” • Click on “Options” → check box for “Heteroskedasticity consistent coefficient covarariance” → OK

  16. Regression Tests & Fixes • Normality • View → Residual Tests → Histogram-Normality Test • Look at Jarque-Bera stat • Fix: Depending on skew, you can adjust variables (ex: square, log, etc) or add/delete variables

  17. Regression Tests & Fixes • Correlation & Multicolinearity • Create Correlation Matrix: • Quick → Group Statistics → Correlations • Off-diagonal values should be less than 0.5 • Fix: Talk to your advisor

  18. Exercise #4 • Plot fitted values vs. residuals • Check for Heteroskedasticity and fix if necessary • Check for Multicolinearity • Check for Normality

  19. Changing/Creating Variables • Edit Mode • In Spreadsheet: Toggle “Edit+/-” • CAREFUL! No “undo” • Generate new variable • In Workfile: • Click on “Genr” • Enter equation: “new variable name” = equation • Regular math function keys • Lag: variable(-1)

  20. Just for Fun… • Opening a non-excel data file • Open peacekeeping.txt • Open Excel and open this .txt file from Excel • Delimitate correctly • Student Version does not use “alpha” objects (series with words) • Select only numeric variables or change alpha variables into numeric values • Import into EViews as before • Import Directly: Proc →Import →Read Text-Locus-File

  21. Commands • Top, Left-Hand “Command Box” • Single commands • Batch (program) • Syntax: Command (Option) Argument

  22. Commands • Frequently Used Commands: • show variable • genr variable = equation • sample n1 n2 • n1 and n2 represent the start and end of range • Or qualifiers such that: sample variable if >15 • Statistical Operations: • equation name .ls(h) dependent c independent variables • cor variables • group variables

  23. Help! • For general instruction or commands: • EViews PDFs ! • Help→ Users Guide (pdf) • → Command & Programming Reference (pdf)

  24. All Done! If you would like more, individual help please see the Technical Statistical Coordinator 

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