Brock University Economics Empirical Analysis Report

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write an Empirical Analysis report within a few materials that I provide. I have an introduction pdf and video(8min) very straightforward you can easily follow the video step by step

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EMPIRICAL ANALYSIS REPORT TEMPLATE
As mentioned in class, the purpose of an empirical analysis report is to summarize empirical
evidence related to your research argument. Hence, an empirical analysis report should include
clear discussions of the data used, the empirical model, the hypothesized results, the actual
results, and the researcher’s interpretation of the results. The empirical analysis report should
persuade readers that the empirical approach adopted was sound and the data used was
appropriate for testing the stipulated hypothesis.
In the preparation of your empirical analysis report, it is important to read Chapter 12 of the
textbook, which articulates the guidelines on communicating the results of a research project,
very carefully, paying attention to the “Empirical Testing of the Analysis” part (pp.
241-246).
Your empirical report, which should be 5-8 pages typed double-spaced, should be organized as
follows:
1. Testing Methodology
• Describe the methodology used (e.g. the research used OLS applied to monthly time
series data for Country A covering the period from January 19xx to December 20xx)
• Explain why the chosen methodology is appropriate for testing your research hypothesis
2. Empirical model
• Provide the equation of the empirical model with clear descriptions of the variables in the
equation (e.g.,… the empirical model adopted is: ???? = ??1 + ??2 ???? + ???? where C is the
household expenditure (thousands of dollars), Y is income (thousands of dollars), Y is
wealth (thousands of dollars), and u is the error term that captures the effect of omitted
variables.
• The empirical model should be linked to the theoretical model in terms of the variables,
functional form, mathematical manipulation, etc.
3. Data
• A brief description of the sources and methods of the data used to test the hypothesis,
including any data transformations. This part, which is a very brief reiteration of the
information you provided in the data report, is aimed at persuading the reader that the
data are adequate for purposes of testing the research hypothesis.
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4. Hypothesized results
• Before presenting the actual results it is important to explain the expected signs of the
coefficients (i.e., positive, negative, or uncertain).
5. Actual results
• Present detailed results (including empirical test results) in Tabular form (if there are too
many results, some non-key results can be relegated to the appendix).
• Figure 12.2, on Page 244 of the textbook, provides an example of how you could present
your results.
• Regardless of how you present it, your results should include the sample size, estimated
coefficients, a measure of significance (e.g., t-ratio, p-value or standard error), a goodness
of fit measure (e.g., R-squared), F-statistic for significance of the overall regression, as
well as the results of any tests for econometric problems such as autocorrelation,
heteroscedasticity, etc.
• Explain the nature of the reported standard errors (e.g. the usual OLS standard errors, or
heteroscedasticity-robust standard errors).
• The Figures/Tables must be appropriately numbered, titled and referenced in the text.
6. Interpretation of the Results
• Provide an appropriate interpretation of the results.
• Your interpretation should include the following: are signs of the estimated coefficients
in conformity with the predictions of your hypothesis? Are the estimated coefficients
significant? How do your results compare to previous results? What is your detailed
interpretation (where detailed means going beyond just good fit or poor fit) of the
goodness-of fit measure such as R-squared? Were there any statistical problems (e.g.
heteroscedasticity, autocorrelation, etc.) that needed to be corrected in order your
reported results?
• State and explain any anomalies in your results (e.g. where the estimated sign of the
coefficient differed from the corresponding theoretical sign).
• Provide any general conclusions arising from your research.
7. Conclusions
• Provide an overall summary of your findings, which involves restating your argument
and concluding as to whether or not your argument is valid e.g., were your empirical
results in conformity with your hypothesis; if your results were not consistent what are
the plausible explanations for this lack of consistency?
• State any ways in which your study could be improved upon in future given additional
time and effort (e.g., better data, improved methodology, etc.)?
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8. Results appendix (if necessary)
•
If there are too many results in Part 5, some non-key results can be relegated to this
appendix section.
Some cautionary remarks:
Lack of significance of the estimated coefficients reported in Part 5 does not mean that your
research is wrong, and you will get a bad mark. What is more important is to appropriately
discuss the results that you have found.
Due date: Friday December 3, 2021
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economics

Empirical Analysis

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