Mis-specification and Omitted Variable (Ramsey RESET) tests in Stata 17

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This video demonstrates Mis-specification and Omitted Variable tests in Stata 17. ovtest and linktest are applied using stata. Ramsey RESET test is applied using Stata.

Commands:

reg y x
ovtest
linktest

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Regards,
DBM,
  1. Dr Bilal Mehmood
  2. Economics
  3. Dr Bilal Mehmood
  4. BS Economics
  5. MSc
  6. Economics software
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Комментарии
Автор

Why can we rejct the hypothesis for the ovtest? is it because it is less than .01? so if it were for instance .05 we would fail to reject?

Also, why for the linktest is .166 insignificant? would .002 for hat be significant as well as .516 for hatsq, would that be significant too?

TheRealAcorn
Автор

Thank you sir. When you find that there is a Mis-specifacation in your model, what are the measures to correct them.

abdillaahiawed
Автор

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.?

pavilionchannel
Автор

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.

aleebaloch
Автор

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.

usamaahmed