A COMPARATIVE STUDY OF ALTERNATIVE ECONOMETRIC PACKAGES: AN APPLICATION TO ITALIAN DEPOSIT INTEREST RATES



| Diagnostic: Log-L = -10607.0057, Restricted(b=0) Log-L = -14440.5947 |

| Amemiya Pr. Crt.= .769, Akaike Info. Crt.= 2.575 |

| Panel Data Analysis of RATE [ONE way]             |

| Unconditional ANOVA (No regressors)             |

| Source Variation Deg. Free. Mean Square |

| Between 4478.58       1306.     3.42923         |

| Residual 11553.7       6938.     1.66528         |

| Total 16032.3        8244.     1.94472         |

+-----------------------------------------------------------------------+

Variable Coefficient Standard Error b/St.Er. P[|Z|>z] Mean of X

COSRAT

31.131

1.4090

22.095 .00000 .2759E-01

NBANKS

.90128E-02   .51991E-03 17.335 .00000 25.55

ANN90

2.2087

.37649E-01

58.665 .00000 .1216

ANN91

2.1643

.37082E-01

58.365 .00000 .1300

ANN92

2.7416

.35932E-01

76.301 .00000 .1460

ANN93

.76425

.36114E-01

21.162 .00000 .1474

ANN94

.80676E-01

.35486E-01 2.273 .02300 .1500

ANN95

.97733

.34982E-01

27.938 .00000 .1544

Constant

3.6932

.44046E-01

83.848 .00000

+======================================================================+
: LIMDEP Estimation Results :

: Current sample contains 8245 observations.:

+======================================================================+

+-----------------------------------------------------------------------+

| Least Squares with Group Dummy Variables               |

| Ordinary least squares regression Weighting variable = ONE |

| Dependent variable is RATE Mean = 6.00849, S.D. =   1.3945 |

| Model size: Observations = 8245, Parameters = ***, Deg.Fr.= 6930 |

| Residuals: Sum of squares = 2361.8043, Std.Dev. =     .58379 |

| Fit: R-squared = .85268, Adjusted R-squared =     .82475 |

| Model test: F[***, 6930] = 30.53, Prob value =     .00000 |

| Diagnostic: Log-L = -6545.2768, Restricted(b=0) Log-L = -14440.5947 |

| Amemiya Pr. Crt.= .395, Akaike Info. Crt.= 1.907 |

| Estd. Autocorrelation of e(i,t) .002549                 |

| Estd. Autocorrelation of e(i,t) .002549                 |

+-----------------------------------------------------------------------+

Variable Coefficient Standard Error b/St.Er. P[|Z|>z] Mean of X

COSRAT 12.096    2.2071   5.480 .00000 .2759E-01

NBANKS .76928E-02  .39979E-02 1.924 .05433 25.55

ANN90

2.4059

.27801E-01

86.539

.00000

.1216

ANN91

2.3498

.27390E-01

85.790

.00000

.1300

ANN92

2.9008

.26125E-01

111.037

.00000

.1460

ANN93

.93770

.27036E-01

34.684

.00000

.1474

ANN94

.20781

.25102E-01

8.279

.00000

.1500

ANN95

1.0610

.23598E-01

44.963

.00000

.1544

+------------------------------------------------------------------------+

|         Test Statistics for the Classical Model          |

|                                                                                                                                                                                                                                                                                                                                                   |

| Model Log-Likelihood Sum of Squares R-squared |

22



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