Economic Analysis: An Introduction
20:59
Пікірлер
@ZaimaAshraf
@ZaimaAshraf 14 күн бұрын
Very informative you are doing a great job
@drbilalmehmood206
@drbilalmehmood206 11 күн бұрын
Thanks a ton
@lsd-gm8sm
@lsd-gm8sm 16 күн бұрын
Sir does it tend to have smell like henna?
@drbilalmehmood206
@drbilalmehmood206 14 күн бұрын
yes it does, considerably.
@lsd-gm8sm
@lsd-gm8sm 14 күн бұрын
@drbilalmehmood206 thnx✌🏼
@parasbhatia_sbsec8510
@parasbhatia_sbsec8510 18 күн бұрын
Very good explanation ❤
@drbilalmehmood206
@drbilalmehmood206 14 күн бұрын
Glad you think so!
@nehalalsaeed9492
@nehalalsaeed9492 27 күн бұрын
Thanks indeed you make it very easy
@drbilalmehmood206
@drbilalmehmood206 11 күн бұрын
I'm glad you found it helpful!
@joycewanjiku512
@joycewanjiku512 Ай бұрын
Thank you so much for helping me understand this
@alqaida9878
@alqaida9878 Ай бұрын
too many ads sirrrr
@drbilalmehmood206
@drbilalmehmood206 Ай бұрын
KZbin policy.
@faizagulzar3234
@faizagulzar3234 Ай бұрын
from where we got the number 15 where you assuming the p10 and p20
@drbilalmehmood206
@drbilalmehmood206 Ай бұрын
It's by solving the two equations [4Q1+Q2=P1, Q1+4Q2=P2], simultaneously. The detailed steps are not performed here.
@muhammadasifiqbal2065
@muhammadasifiqbal2065 Ай бұрын
Sir panel dat stata 15.1 analysis needed vedio
@drbilalmehmood206
@drbilalmehmood206 Ай бұрын
The best thing to do is to install the latest possible version of the software otherwise you will have to install many commands and compatibility issues of data sets made on older and newer data sets will also be there.
@uog-ro1oq
@uog-ro1oq 2 ай бұрын
This video really helps me a lot! Thank you🥲
@drbilalmehmood206
@drbilalmehmood206 Ай бұрын
I'm so glad!
@SlamanAli-n9u
@SlamanAli-n9u 2 ай бұрын
😅😅😅😅😅😅😅😅😅😅
@SlamanAli-n9u
@SlamanAli-n9u 2 ай бұрын
😅😅😅😅😅😅😅😅😅😅
@aleniabarria2751
@aleniabarria2751 2 ай бұрын
Thank you, this is so well explained.
@drbilalmehmood206
@drbilalmehmood206 Ай бұрын
Glad it was helpful!
@liamelijah-q9f
@liamelijah-q9f 2 ай бұрын
@drbilalmehmood206 where are you from?
@liamelijah-q9f
@liamelijah-q9f 2 ай бұрын
@Dr Bilal Mehmood
@liamelijah-q9f
@liamelijah-q9f 2 ай бұрын
i think you are asian?
@drbilalmehmood206
@drbilalmehmood206 2 ай бұрын
Humble Pakistani
@liamelijah-q9f
@liamelijah-q9f 2 ай бұрын
@@drbilalmehmood206 is pdf for this series available?
@liamelijah-q9f
@liamelijah-q9f 2 ай бұрын
@@drbilalmehmood206 is pdf available for this series?
@liamelijah-q9f
@liamelijah-q9f 2 ай бұрын
where are you from?
@drbilalmehmood206
@drbilalmehmood206 2 ай бұрын
Regards from Pakistan
@liamelijah-q9f
@liamelijah-q9f 2 ай бұрын
i have started watching this playlist well done man
@drbilalmehmood206
@drbilalmehmood206 Ай бұрын
Really happy to know you’re finding the playlist useful as you dive into advanced mathematical economics! If you feel others could benefit from it as well, please do share it with them-let’s help more people on this learning journey together!
@liamelijah-q9f
@liamelijah-q9f 2 ай бұрын
great man well explained
@drbilalmehmood206
@drbilalmehmood206 2 ай бұрын
Glad you think so!
@nadiamaiden2837
@nadiamaiden2837 2 ай бұрын
So helpful and informative, thanks so very much!
@drbilalmehmood206
@drbilalmehmood206 2 ай бұрын
welcome.
@arslanmehmood5813
@arslanmehmood5813 2 ай бұрын
Great job sir g 👍
@drbilalmehmood206
@drbilalmehmood206 2 ай бұрын
Thanks
@vinaymirzapuria2156
@vinaymirzapuria2156 2 ай бұрын
Saptamveda powder is good plss answer me..
@drbilalmehmood206
@drbilalmehmood206 2 ай бұрын
it has good reviews. it can be used. why it is always better to check every new packet and give feedback to the seller. I do the same and more importantly the best thing is to make it at home, if possible.
@AliAhmed-vk4lp
@AliAhmed-vk4lp 2 ай бұрын
Real morgina powder please Oder
@Cj44-g8c
@Cj44-g8c 3 ай бұрын
Is dark green color not important at all ?
@TegegnT.
@TegegnT. 3 ай бұрын
How can I download it to SD
@rinkyyadav8918
@rinkyyadav8918 3 ай бұрын
Mind blowing 🎉 sir
@drbilalmehmood206
@drbilalmehmood206 3 ай бұрын
Thanks a lot
@viewer5414
@viewer5414 3 ай бұрын
Is it normal if we feel like sand powder while consuming please respond sir
@drbilalmehmood206
@drbilalmehmood206 3 ай бұрын
Feeling of sand to a little extent is ok as the powder can have thick particles but it should be actual sand. If company hasn't washed the leaves properly, sand and dust can creep into the powder. Still the thick particles and sand are different in mouth. One can feel the subtle difference by using the tongue. Finally the best option is to grow and make it at home. Else buy from a reputed seller.
@yemisiadeleke4335
@yemisiadeleke4335 3 ай бұрын
Thank you for taking us through this analysis. However, can you also take us through video on the linear and non linear analysis you used in your study. Thank you
@mekalasanjana1117
@mekalasanjana1117 3 ай бұрын
Were is it shop in hyd
@drbilalmehmood206
@drbilalmehmood206 3 ай бұрын
Plot 121 Road No:23, Prashasan Nagar, Hyderabad, Telangana 500033, India
@quang.5613
@quang.5613 4 ай бұрын
for 3x3, when it would be saddle point?
@MrBush8
@MrBush8 4 ай бұрын
Very explanatiry❤❤
@drbilalmehmood206
@drbilalmehmood206 3 ай бұрын
Thanks a lot 😊
@marianadel393
@marianadel393 4 ай бұрын
A great video. What is the source of non-traded costs and net (traded) benefits raw data as CC and O&M?
@drbilalmehmood206
@drbilalmehmood206 4 ай бұрын
Thanks. CC (capital costs) and O&M (Operation & Maintenance) costs (actually whole of the data), are likely to be from J Price Gittinger's "Economic Analysis of Agricultural Projects". Not sure as it's been a while but it's likely.
@acheampongsamuel9695
@acheampongsamuel9695 4 ай бұрын
Thank you sir
@drbilalmehmood206
@drbilalmehmood206 3 ай бұрын
Welcome
@mbs47adnanhussain51
@mbs47adnanhussain51 5 ай бұрын
searching here and there, ultimately found your channel. thank you sir for the comprehensive lecture. I was your student from batch 2018 to 2022 at PU. again thank you sir, god bless you
@drbilalmehmood206
@drbilalmehmood206 3 ай бұрын
You are most welcome
@Abrar-Khan09
@Abrar-Khan09 6 ай бұрын
Hi Sir, while runing Driscoll-Kraay standard errors estimator, is it must to take the "first difference" if there is stationarity problem in the data?
@drbilalmehmood206
@drbilalmehmood206 6 ай бұрын
When using Driscoll-Kraay estimator, you don't always need to take the first difference if your data has a trend or isn't stable. But, it's a good idea to fix the stability issue first by using either of these three options: 1. Remove the trend by taking the first difference or detrending. 2. Transform the data to make it stable (e.g., logging or normalizing). 3. Use a different method that can handle unstable data (e.g., Hodrick-Prescott filter or Canova-Hansen test).
@Abrar-Khan09
@Abrar-Khan09 6 ай бұрын
​@@drbilalmehmood206 I have already transformed the data into logarithmic form. But there is still a stationery problem. Only 1 variable is stationary at the level in the 5 explanatory variables [1%] while 2 variables are stationary at level considering 10% significance level. The data is also suffering from CD, hetero and autocorrelation. Need your guidance on what will be the appropriate procedure for the estimation [t<n]. thanks!
@drbilalmehmood206
@drbilalmehmood206 6 ай бұрын
When the data is not stationary then Difference Regression can be used. And for cross sectional dependence, heteroskedasticity and auto correlation there are many remedial measures and advanced regression techniques. to cope with t<n, bias corrected and jacknife estimators are used.
@54Aakash
@54Aakash 6 ай бұрын
You are a good and intelligent man. Aape ne videos me kaafi mehnat ki h. I am from India
@drbilalmehmood206
@drbilalmehmood206 6 ай бұрын
Thank you Mr. Aakash. In India, there are many students who study Mathematical Economics. I hope you'll share this channel with them so they learn and comment too. Regards.
@sarahahmedchawsheen5455
@sarahahmedchawsheen5455 6 ай бұрын
Hi Dr. Bilal, I have a question please. In case if some of my variables were stationary at first difference should I write "d." beside it everywhere in the "xtpmg" command? Because when do so, it gives more significant variables for the p-values. Thanks in advance.
@drbilalmehmood206
@drbilalmehmood206 6 ай бұрын
Hi, introducing difference operator should not be led by temptation of desired results. Rather by logic and the logic is correct that they need to be differenced. And using the d. operator is correct syntax to do it. Good Luck
@s.ch.2190
@s.ch.2190 6 ай бұрын
Okay thanks.
@usamaahmed6056
@usamaahmed6056 7 ай бұрын
Dear Professor Bilal, I really appreciate your effort. I would like to ask if the way of testing the misspecification differs when I run fixed (or random) effect model? or it is the same as it is in this video? Maybe I got confused from watching many videos in this regard as I saw many different approach to test the omitted variables. Moreover, I would like to ask you if the GLS estimation method is appropriate when I have random-effects model with problems like heteroskedasticity and autocorrelation, but my N is greater than the T. I hope I can get your email if you do not mind. Thank you in advance.
@drbilalmehmood206
@drbilalmehmood206 6 ай бұрын
Testing for misspecification in fixed or random effects models is similar to the approach in the video, but with some modifications. For fixed effects models, you can use the Hausman test to check for misspecification. For random effects models, you can use the Breusch-Pagan Lagrange multiplier test (LM test) to check for misspecification. Regarding GLS estimation: If you have a random effects model with heteroskedasticity and autocorrelation, and N > T, GLS estimation is appropriate. GLS can handle heteroskedasticity and autocorrelation, and is suitable for panel data with a large number of cross-sectional units (N) and a smaller number of time periods (T). Please note that it's important to check the assumptions of the GLS estimation method, such as normality of errors and homoscedasticity, to ensure reliable results.
@usamaahmed6056
@usamaahmed6056 6 ай бұрын
@@drbilalmehmood206 Appreciate your sincere response. Thank you Sir. I do not know how to test for the assumptions of the GLS estimation method, as I think that supposedly this technique (GLS) overcome problems of Hetero and serial correlation.
@drbilalmehmood206
@drbilalmehmood206 6 ай бұрын
GLS handles heteroskedasticity and serial correlation. Its Assumptions include linear relationship, no perfect multicollinearity, errors with normal pattern, consistent variance of errors. Better to check Heteroskedasticity using Breusch-Pagan LM and Serial Correlation using Durbin-Watson or LM test. Moreover, GLS can handle big N and small T.
@usamaahmed6056
@usamaahmed6056 6 ай бұрын
@@drbilalmehmood206 I really appreciate your response. I hope I can contact you over and over. I sent you an email 2 days ago. Please keep posting more videos in the same direction. You save lives with your beneficial science.
@drbilalmehmood206
@drbilalmehmood206 6 ай бұрын
Thank you so much for your kind words! I truly appreciate your support and encouragement. It's heartwarming to know that the content I create has a positive impact. Rest assured, I'll continue sharing valuable information and creating content in the same direction. If you have any more questions or need assistance, feel free to reach out anytime. Keep learning and stay curious! [email protected]
@idkele9821
@idkele9821 7 ай бұрын
Hello, i have a question. When to use corr(ar1) and corr(psar1). and what does Wald chi indicate? when the value of Wald chi is considered to be high ? thank you!
@drbilalmehmood206
@drbilalmehmood206 6 ай бұрын
corr(ar1): checks for first-order autocorrelation (relationship between a value and its immediate previous value). corr(psar1): checks for partial autocorrelation, (relationship between a value and its previous value, while controlling for the effects of intermediate values). In simple terms, Wald Chi-Square tell you if a variable is important in explaining the behavior of your data. A high value means the variable is important, while a low value means it's not as important. A high Wald Chi-Square value (e.g., > 10) indicates that the variable(s) have a significant effect on the model. while a low Wald Chi-Square value (e.g., < 3) indicates that the variable(s) do not have a significant effect on the model.
@knowtheworld9586
@knowtheworld9586 7 ай бұрын
Is anveshan moringa good
@drbilalmehmood206
@drbilalmehmood206 7 ай бұрын
Yes, it is considered as one of the reputed brands in Indian Subcontinent, however, its wise to insist on freshness of the product, no matter the brand.
@abdillaahiawed3697
@abdillaahiawed3697 7 ай бұрын
Thank you sir. When you find that there is a Mis-specifacation in your model, what are the measures to correct them.
@drbilalmehmood206
@drbilalmehmood206 7 ай бұрын
Thank you for your query Miss specification error can be addressed by using a number of treatments: First one is to consult the theory and c if theory suggests a nonlinear relationship. You can also try some other new variables that are more relevant. You can check for other forms of model for example logarithmic model exponential model etc. You should also be mindful of any problems of the data like heteroscedasticity, auto-correlation etc.
@wisewolf-tu3qn
@wisewolf-tu3qn 7 ай бұрын
Thank you very much for your efforts. You can show that the CES production function is a generalisation of the other three production functions, Cobb-Douglass, Leontief and linear.
@drbilalmehmood206
@drbilalmehmood206 7 ай бұрын
Thank you for your comment. Yes, indeed it depends upon the elasticity of substitution (σ). If: σ=∞ then we have Perfect Substitute inputs σ=1 then we have Cobb-Douglas inputs σ=0 then we have Perfect Complements(inputs). It can be proved by substituting values of Substitution Parameter (𝝆) in the formula σ={1/(1+𝝆)}, as follows: 𝝆=-1 𝝆=0 𝝆=∞
@TrangHuyen-nn3rk
@TrangHuyen-nn3rk 7 ай бұрын
Please answer, sir 1. Is there any requirement relating to using the xtscc? For example, requirement in the minimum number of years. 2. Which one is more reliable when FEM is chosen? GLS or xtscc? Thank you
@drbilalmehmood206
@drbilalmehmood206 7 ай бұрын
Thanks for asking: Two points asked. 1. No strict requirement on the time dimension (T) for using xtscc. However, it’s essential to consider the balance between T and the cross-sectional dimension (N). If T is much smaller than N, the standard pooled cross-sectional estimator may be inappropriate. Hence, xtscc becomes particularly useful. 2. When using a fixed effects model, both GLS (Generalized Least Squares) and Driscoll and Kraay standard error models are reliable options, but they serve different purposes. GLS is a more efficient estimator that accounts for heteroscedasticity and autocorrelation in the residuals, providing more accurate parameter estimates. Driscoll and Kraay standard error model, on the other hand, is a robust standard error estimator that accounts for cross-sectional dependence and heteroscedasticity, providing more accurate inference. If you're concerned about efficient estimation, GLS might be a better choice. If you're concerned about robust inference, Driscoll and Kraay might be a better choice. However, if you're dealing with a large panel dataset, Driscoll and Kraay is often the preferred option due to its ability to handle cross-sectional dependence.
@TrangHuyen-nn3rk
@TrangHuyen-nn3rk 7 ай бұрын
​@@drbilalmehmood206 thank you so much for your answer. In my model, T=5, N=63 and there are heteroskedasticity, cross-sectional correlation and cross-sectional dependence. Is the Drisscoll-Kraay model appropriate? Thank you!
@drbilalmehmood206
@drbilalmehmood206 7 ай бұрын
Compared to xtregar, xtscc a better (model) command to use, as it fulfills most of your data requirements (T<N) and issues (heteroskedasticity, auto-correlation and cross-sectional dependence). However, this is not the most suitable model. As there are others as well. That account for Endogeneity (e.g. GMM) and slope heterogeneity in addition to cross-sectional dependence (e.g. CS-ARDL). So upto you if you want upgrade your analysis, or continue with D.K regression. Good Luck.
@TrangHuyen-nn3rk
@TrangHuyen-nn3rk 7 ай бұрын
@@drbilalmehmood206 I really appreciate your help, Sir. Thanks a lot.
@etbedtalksAOH
@etbedtalksAOH 7 ай бұрын
Sir can we change the independent variables to simulate its effect on the dependent variable such as a 10 percent change in one variable, how much it affects the dv. Is there such a command available as per your knowledge in FGLS? Thank you
@drbilalmehmood206
@drbilalmehmood206 7 ай бұрын
Yes, you can use the "marginal effects" command in Stata. 1. Estimate the FGLS model: `fgls y x1 x2 x3, fml( formula )` 2. Calculate the marginal effects: `margins, dydx(*)` This will give you the marginal effects of each independent variable on the dependent variable. To simulate a 10 percent change in one of the independent variables, you can use the `at()` option: `margins, dydx(x1) at(x1=(1.10*x1))` This will calculate the marginal effect of a 10 percent increase in `x1` on the dependent variable `y`.
@etbedtalksAOH
@etbedtalksAOH 7 ай бұрын
@@drbilalmehmood206 ty sir. I'll try it.
@themarvel6214
@themarvel6214 7 ай бұрын
Thank you dr, is the DRC still used? And what other indicators that i can use to prioritize product to localize?
@drbilalmehmood206
@drbilalmehmood206 7 ай бұрын
The Decision Rule Criterion (DRC) is still used in economic decision-making, but it's often combined with or incorporated into more comprehensive analytical frameworks. One such approach is general equilibrium models, which can generate various cost-benefit ratios and provide a more detailed analysis of economic policies and their impacts. These models consider the interdependencies between different sectors of the economy, offering a more nuanced understanding of policy effects. This integrated approach provides a more detailed and holistic view of economic decision-making.
@aleebaloch5902
@aleebaloch5902 7 ай бұрын
Respected Dr, In my analysis _hat is coming significant (0.000) whereas _hatsq is coming insignificant. Can i show the results this way. Is there any problem with my model specification. Kind regards.
@drbilalmehmood206
@drbilalmehmood206 7 ай бұрын
The significance of _hat (0.000) and insignificance of _hatsq suggests that the linear term is significant, but the quadratic term is not. This is not uncommon, especially when exploring non-linear relationships. Potential Solutions: 1. Remove the quadratic term (_hatsq) and if it's not significant, it might not be contributing meaningfully to the model. 2. Reconsider the functional form by explore alternative non-linear specifications, such as a logarithmic or interaction term. 3. Check for multicollinearity by using Variance Inflation Factor (VIF) to ensure that the linear and quadratic terms are not highly correlated.
@pavilionchannel9492
@pavilionchannel9492 7 ай бұрын
If I put log, there is misspecification error. If no log, the model is stable. However, the variable should put log to get small value and also based on previous studies. What’s your suggestion, Dr.?
@drbilalmehmood206
@drbilalmehmood206 7 ай бұрын
This shows that non-log model may be suitable for your situation. But its suitable in this case, that your variables are not having very large values (high variance).
@pavilionchannel9492
@pavilionchannel9492 7 ай бұрын
Thanks Dr.
@pavilionchannel9492
@pavilionchannel9492 7 ай бұрын
Hi sir. Do you mean when we regress the xtgls we use original data which is no log?
@drbilalmehmood206
@drbilalmehmood206 7 ай бұрын
taking logarithm depends upon the degree of variance of the given variable and is suitable when we need to linearize the variable.
@pavilionchannel9492
@pavilionchannel9492 7 ай бұрын
Thanks Dr.
@pavilionchannel9492
@pavilionchannel9492 7 ай бұрын
If I use log variable, so I dropped the command no log.
@drbilalmehmood206
@drbilalmehmood206 7 ай бұрын
'no log' option in XTGLS command hides the log file of stata and it has nothing to do with logarithm.
@pavilionchannel9492
@pavilionchannel9492 7 ай бұрын
Thanks Dr for the info
@usamaahmed6056
@usamaahmed6056 7 ай бұрын
Please continue producing more videos. You have the blessing of simplicity and accuracy. Thank you for your amazing video.
@drbilalmehmood206
@drbilalmehmood206 7 ай бұрын
Yes, with your support and prayers. Keep sharing!
@syedaishba575
@syedaishba575 7 ай бұрын
Thanks sir
@drbilalmehmood206
@drbilalmehmood206 7 ай бұрын
Welcome
@yasmeensarwarabbasi
@yasmeensarwarabbasi 7 ай бұрын
Aoa sir i am following your paper n work regarding cs-ardl and putting the same commands with my variables but it is not working. Stata shows different errors what would be the reason?
@drbilalmehmood206
@drbilalmehmood206 7 ай бұрын
wasalam. Garbage in Garbage out...remember this when analysing the data. make sure your data is clean and free of errors.