Author(s): Garlaschelli Kato
These methods involve a set of techniques that allow economists to draw conclusions from empirical data, test hypotheses, and make predictions. This article provides an overview of the most common econometric and statistical methods used in economics. Regression Analysis: Regression analysis is a statistical method that aims to establish a relationship between a dependent variable and one or more independent variables. It allows economists to examine the impact of one or more factors on a particular outcome. In regression analysis, the dependent variable is the outcome of interest, while the independent variables are the factors that are hypothesized to influence the outcome. Regression analysis can be linear or non-linear, and it can be used to model both continuous and categorical dependent variables.