Econometrics Tools

Suggestions collected from Quora:

  1. Learn Probability and Statistics. Harvard‘s Statistics 110: Probability is a bit rigorous but worth it.
  2. Learn Linear Algebra. Understanding econometric theory is less tedious with matrix algebra. I recommend Gilbert Strang Linear Algebra course at MIT OpenCourseWare.
  3. Learn Econometric theory. Jeffrey Wooldridge’s Introductory Econometrics is an excellent book to begin with.
  4. Read Peter Kennedy’s A Guide to Econometrics.
  5. Get a statistical package. Stata is great for beginners. Once you familiarize yourself with the basic Stata environment, solve practise problems of Wooldridge’s book.
  6. Bring it all together by replicating the results of an economics paper. Replicating papers is the de facto standard of learning applied econometrics in graduate schools. It’s a great confidence booster. The American Economic Review provides access to the datasets and code(sometimes) of the published papers. Choose a simple paper, get the data and replicate its results.The paper I replicated first was Froot and Dabora (1991). The data is available at Kenneth Froot’s homepage at Harvard.


Back to the Future: Returning to Silver-Backed Money in Sri Lanka

In this paper, we study the behavioral intention to use the silver-backed mobile payment system, using the extended technology adoption model, among the people of the district of Kattankudy in Sri Lanka. Using structural equation modelling, we find perceived usefulness and subjective norms to have positive relationships and perceived risk a negative relationship with people’s behavioral intention. In addition, we find the respondents to be motivated primarily by faith but also by the economic advantages of the adoption of the silver-backed mobile payment system. This study is a stepping stone towards implementing real money in Sri Lanka.

Keywords: real money, silver, TAM, SEM, mobile payment system

Forthcoming: JiABR (Emerald/WoS ESCI)