Repeat Exercise 22.11 for the LPCE (personal consumption expenditure) data introduced in Section 21.1 (again, see the
Question:
Repeat Exercise 22.11 for the LPCE (personal consumption expenditure) data introduced in Section 21.1 (again, see the book’s website for the actual data).
Exercise 22.11
Consider the data on log DPI (personal disposable income) introduced in Section 21.1 (see the book’s website for the actual data). Suppose you want to fit a suitable ARIMA model to these data. Outline the steps involved in carrying out this task.
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Step by Step Answer:
Follow Exercise 2211 and try the models MA2 MA6 AR2 and AR4 of the first differenced log PCE series ...View the full answer
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