Then select OK. Enter the series names into the box and press OK. This will create the summary statistics table we have seen before. Enter the names of series for which the sample correlations are desired and click OK. The sample correlations are arranged in an array, or matrix, format. Also, these functions return a single number, which is called a scalar. In the commands the variables, or series, are called x and y.
These functions are used by typing commands into the Command window and pressing Enter. To view this scalar object double-click on it: it opens in a spreadsheet view. The sample mean of GDP during the sample period is Scalars you have created can be used in further calculations. One solution is to create a storage vector into which these scalars can be placed.
To create a storage vector an array with 10 rows, select the radio button Vector, enter 10 for Rows, and click OK.
A spreadsheet will open with rows labeled R1 to R Note that in the last command could be included the previously calculated members of the vector demo. Choose the Formatted radio button and OK.
R1 Demo vector GDP mean To keep our workfile tidy, delete the scalar and vector objects that have no further use. Right- click in the blue-shaded area and select Delete. Some of these functions are listed below. Note that common ones like the absolute value abs , the exponential function exp , the natural logarithm log , and the square root sqr can be used with or without the sign. Suppose, however, that you need to collect your data, and the data are available in another format, such as an Excel file or a text file.
How do you create an EViews workfile that contains the required data? We begin to answer this question by exploring how to download data from the Internet into an Excel file; then we examine ways of creating an EViews workfile from an Excel file or a text file. Before the Internet, hours would be spent in libraries, looking for and copying data by hand. Now we have access to rich data sources that are a few clicks away. As suggested in POE4, the website Resources for Economists contains a wide variety of data, and in particular the macro data we seek.
Websites are continually updated and improved. We will guide you through an example, but be prepared for differences from what we show here.
Macro and Regional Data. From the screen below, select the Gross Domestic Product option. Most websites allow you to download data conveniently in Excel format. Select the Excel option and a dialog box will open. Save the data as gdplev. Highlight the file to be imported and hold down the left-mouse button. If EViews is open, drag the file icon into EViews as shown below.
If EViews is not open, you can drag the file icon onto the EViews icon on the desktop. Usually the default settings are fine and we just click Next. In the screen shot below we have edited the image a bit, cutting out some of the data lines to make it smaller. In Step 2 we have an opportunity to give the series names. Click Finish and there you have it. We will use food. The first few observations are: Select the file, then holding the left-mouse button, slide the mouse.
We then have a series of screens checking if the data match your expectations. In each, if all looks good, click Next.
In Step 3 we can change the default names of each column. In the final step we Create new workfile. And there you have it. However, there is a longer way where you first open EViews and then use commands for importing data. In this and the next section we describe this process for Excel and text files.
The following screen will open: To create the workfile for annual data covering sample period to , select Annual from the drop-down menu in Frequency and type in the Start and End dates. EViews will then ask you for the location of the Excel file.
Open the gdpplev. The final step is to save your workfile. However, some data also come in text form and so, for completeness, we shall consider the case of importing a text data file. Before trying to import the data in food. For example, open food.
To import this data, create a workfile for 40 undated observations and click OK. Select Open. A dialog box will open. And at the bottom of the dialog box, we can see the first few observations in the data file. Because the data file does not contain variable names, enter them as shown, and click OK. Save your file. The procedures described in the last four sections can be used in a similar way. Examples: , Q3. Examples: , M EViews also offers an easy way to convert from one frequency to another.
Suppose we are interested in converting the annual data on GDP to their quarterly equivalents. Specify the range of the quarterly data as shown.
The following page will open. You might like to name this page too. The screen below will open. Clicking OK will create the new variable. For comparison, open the two series and you will note that the quarterly data is one-fourth of the annual. To illustrate, let us work with gdplev. In the resulting screen you will have some choices concerning formats and delimiters.
We also demonstrate the plotting capabilities of EViews and show how to use the software to calculate the income elasticity of food expenditure, and to predict food expenditure from our regression results. See the definition file food. Double-click in the blue area and select Open Group. The Simple Linear Regression Model 55 The resulting summary statistics agree with the information in the food.
From within the Group screen, select Name and then assign an Object Name. In the Graph Options box select Scatter from among the Basic graphs. A plot appears, to which we can add labels and a title. To add a title, click on AddText on the Graph menu. In the resulting dialog box you will be able to add a title, specify the location of the title, and use some stylistic features.
To center the title at the top, click the appropriate options and type in the title. To alter the vertical axis so that it begins at zero, click on Options on the Graph Menu.
Alternatively, double-click inside the graph itself. Choose User specified in the Left axis scale method. Click OK to return to the graph.
To make further changes, click Apply. Note that other attributes can be changed as well. The resulting graph is now Explore the other Graph Options to see all the features. The Simple Linear Regression Model 61 2. Note that separate words are not allowed, but separating words with an underscore is an alternative. In the workfile, you will find an icon representing the graph just created: 2.
In the resulting dialog box you have several file types to choose from, and you can select a name for the graph image. If you select the Save button on the workfile menu, the workfile will be saved under its current name food. It might be better to save this file under a new name, so that the original workfile remains untouched.
Select a simple but informative name. EViews will ask the precision. Choose the default. EViews produces an equation object in its default Stats view. Error t-Statistic Prob. C is the EViews term for the constant in a regression model. In the workfile window, double-click on the vector object C. It always contains the estimated coefficients from the most recent regression. We will return to this shortly. To return to the regression window click Stats. The word scalar means that the result is a single number.
An icon appears in the workfile. EViews saves the estimates from the most recent regression in the workfile. Also, EViews has functions to compute many quantities. The arithmetic mean is computed using the function mean. To clean out the other elasticties, highlight hold down Ctrl and click each , right-click in the blue area, and select Delete.
EViews will check to see if you are sure. Choose Yes to All to delete all three objects from the workfile. We will add the fitted least squares line to the graph. In the Details section, using the Fit lines drop-down menu, select Regression Line. The graph should look like this: Food Expenditure vs. There you can select to view a table or several graphs. Select Resids. In this workfile the data happen to be sorted by income, but note that the fitted values are not a straight line.
When examining residual plots, a lack of pattern is consistent with the assumptions of the simple regression model. Edit the resulting plot to add title and change symbols if desired. The resulting plot shows how the residuals relate to the values of income. Residual plot vs. The following free books use EViews to provide step-by-step instructions on how to use EViews, generate tables, graphs, and offer examples on the application of EViews. Please download for your reference.
Richard Startz EViews Illustrated is a step-by-step user's guide to EViews. Both new and experienced EViews users will find this book useful. This book sets out the theory underlying the SVAR methodology in a relatively simple way and discusses many of the problems that can arise when using the technique. Jean-Louis Brillet Structural econometric modelling: Methodology and tools with applications under EViews describes how to use the model object in EViews to solve structural economic models.
This book provides step-by-step examples of using EViews for modelling and easy to follow descriptions of economic modelling theory and its applications. Moinak Maiti, PhD Gonzalez-Rivera , Gloria Routledge pages - ISBN Hill, R.
Carter, William E. Griffiths, and Guay C. Lim EViews is a Windows-based program. The initial screen is shown below. You should first click on View Read Me to see any last minute changes or instructions. It describes the installation and registration process.
If you do not have this software, go to www. When you are ready, click Install EViews and follow the on-screen instructions. Once installed you should visit www. There you will find any updates for your software.
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