EViews

Todays Workshop
Basic grasp of how EViews manages data Creating Workfiles Importing data Running regressions Performing basic tests Creating/changing Series Working with commands

Thinking About EViews

Workfile
Central place to keep all of your work

Objects
Series (Numeric or Alpha) Equations Graphs Groups
*Always comes with series for a constant, c, and residuals, resid

Workfiles
Creating a Workfile
File New Workfile

Data Structure
Time Series Dated/Regular Frequency + Date Range Cross-Sectional Undated/Unstructured # of observations Panel Balanced Panel

Save & Name

(do not have to do this for this exercise)

New Pages
By clicking on the New Page label at the bottom of the Workfile you can create new pages
Select By Frequency

Exercise #1
Open the Excel file EViewsLab_data.xls, we will be working with the Macro sheet Create a new Workfile for todays workshop

Importing Data
Copy/Past Method
1. Open new Empty Group
Quick Empty Group Click on Cell 1 and press the Up arrow on keyboard

2. Open Excel
Make sure variable names are one constant String (no spaces!) Troubleshoot for other problems

3. Copy Data 4. Paste into Eviews Cell 1

Exercise #2
Import data Series from Excel sheet 1: Macro

Importing Data
Import Directly
1. Count the number of variables and CLOSE Excel file 2. Proc Import Read Text-Locus-File 3. Browse for Excel file 4.

Exercise #3
Create a new page in the Workfile for the unstructured data in the Micro sheet Import, directly, the data from the Micro sheet

Descriptive Statistics
Group
Stores select series together Object New Object Group Select Series Name

Descriptive Statistics
When group spreadsheet is open: View Descriptive Statistics Common Sample Covariance Correlations

Exercise #3
Create a group for you INDEPENDENT variables (hint: consumption is your dependent variable) Find the Standard Deviation for each variable Run a correlation matrix of independent variables to determine if you might have multicolinearity (hint: look if off-diagonal absolute values are bigger than 0.5)

Regressions
Create a new Equation
In your Workfile: Object New Object Equation
Separated by spaces: *Dependent variable *Constant, c *Independent variables (or Group) Type of Regression

Sample Range

Regression Tests & Fixes

Output
To Run Tests Regression Summary This View Coefficient Summary Useful to Create Model Estimate: Modify Regression

SAVE!

Statistics

Name = Save to Workfile

Regression Tests & Fixes

Looking at Residuals
In Equation View: View Actual, Fitted, Residual Actual, Fitted, Residual Table

Plotting Resid Vs. Fitted Values

Generate fitted values In Equation View: Forecast OK (is named variablef) In Workfile: Object New Object Graph Graph: resid variablef Options Type Scatter

Regression Tests & Fixes

Heteroskedasticity
In Equation View: View Residual Tests Heteroskedasticity Tests Choose test Look at Chi-square value from a table

Fix: Click on Estimate

Click on Options check box for Heteroskedasticity consistent coefficient covarariance OK

Regression Tests & Fixes

Normality
View Residual Tests Histogram-Normality Test Look at Jarque-Bera stat Fix: Depending on skew, you can adjust variables (ex: square, log, etc) or add/delete variables

Regression Tests & Fixes

Correlation & Multicolinearity
Create Correlation Matrix: Select Group of independent variables View Covariance Analysis
Select Correlations (unselect Covariance)

Off-diagonal values should be less than 0.5

Fix: Talk to your advisor

Exercise #4
Plot fitted values vs. residuals Check for Heteroskedasticity and fix if necessary Check for Multicolinearity Check for Normality

Changing/Creating Variables
Edit Mode
In Spreadsheet: Toggle Edit+/- CAREFUL! No undo

Generate new variable

In Workfile: Click on Genr Enter equation: new variable name = equation Regular math function keys Lag: variable(-1)

Just for Fun

Opening a non-excel data file
Open peacekeeping.txt Open Excel and open this .txt file from Excel
Delimitate correcly From here you should be able to import into EViews like before

OR Import directly into EViews: If ONLY Numeric Create a new Workfile Page for unstructured data
Click on New Page at bottom of Workfile

Proc Import Read Text-Locus-File

Select TEXT-ASCII file Specify number of variables Specify correct delimitations

Commands
Top, Left-Hand Command Box

Single commands Batch (program) Syntax:

Command (Option) Argument

Commands
Frequently Used Commands:
show variable genr variable = equation sample n1 n2 n1 and n2 represent the start and end of range Or qualifiers such that: sample variable if >15

Statistical Operations:
equation name .ls(h) dependent c independent variables cor variables group variables

Dummy Variables
In 2nd Workfile Page
In command window type:
For a value of 1, everything else will be = 0

Series dummy variable name = (@left (variable, str)= value )

Tells EViews to return the left-most values Variable from which Number of Values of letters to of the string you are creating the letters in the string to read read = MUST EQUAL dummy the number of letters you previously entered and is CASE SENSITIVE

Exercise #5
Create a dummy variable for the alpha object unintrvn
HINT: (@left(unintrvn, 2) = No)

Help!
For general instruction or commands:
EViews PDFs ! Start Programs EViews6

All Done!
If you would like more, individual help please see the Technical Statistical Coordinator