代做Applied Econometrics for Macroeconomics and Finance Research Report 2帮做Python编程

日期：2024-04-11 05:48

Applied Econometrics for Macroeconomics and Finance

Research Report 2

Due date: 15 April 2024

Instruction

The project consists of one research question. Please answer this question as clearly and completely as possible. The question and report is worth 25 marks total and will constitute 25% of your overall grade in this course.

We suggest that you use R for all empirical work involved. However, you should be able to use another statistical software (e.g. Eviews, Stata, Python, etc.) without a problem. If you do choose to work with an alternative software, please note that support for software-specific issues from the course coordinator and tutors may be very limited.

Please upload your report via the “Turnitin” submission link (in the “Assessment / Research Report 2” folder). Please note that hard copies will not be accepted. At the moment, the due date is 15 April 2024, but please check BlackBoard regularly for announcements regarding any changes to this.

Your report should be a write-up of your answers (in PDF format, single-spaced, and in 12 font size). To assist you in writing your report, there is both a marking rubric and a report template available. The marking rubric will give you a good idea about what is expected in your report, while the report template serves as a suggestion for how to structure it. The word limit for your report is 1000 words excluding references and the appendix.

You are allowed to work on this assignment with others, i.e., you can discuss how to answer the questions with your classmate(s). However, this is not a group assignment, which means that the report must be written individually: you must answer all the questions in your own words and submit your report separately. The marking system will check for similarities, and UQ’s student integrity and misconduct policies on plagiarism strictly apply.

Questions

The dataset for this project is contained in report2-data.csv, which is the same dataset as for Report 1. The variables are quarterly time-series of macroeconomic indicators in Australia for the period 1990Q3—2022Q4. In particular, the dataset contains the following variables:

? real_gdp: natural logarithm of seasonally adjusted gross domestic product measured in chain volume millions of dollars;

? unemployment_rate: the seasonally adjusted unemployment rate for all persons at the end of each quarter;

? cpi_inflation: the percentage change from the corresponding quarter of the previous year of all groups CPI;

? cash_rate: the RBA cash target rate at the end of each quarter.

1. Use the data provided to compute the dynamic effects of unemployment rate shocks and cash target rate shocks on inflation. In particular, investigate the following questions:

(a) Are there any identifiable equilibrium relationships between cpi_inflation and un-employment_rate?

(b) If unemployment_rate increases by 1% and remains at the new level thereafter, what is the expected effect (all else constant) on cpi_inflation (i) at the time of impact, (ii) one year after impact, (iii) 10 years after impact?

(c) If cash_rate increases by 1% and remains at the new level thereafter, what is the expected effect (all else constant) on cpi_inflation (i) at the time of impact, (ii) one year after impact, (iii) 10 years after impact?

In answering these questions, please consider how the answers may be useful for policy, and consequently, ensure your interpretation is aligned with the underlying motivation. Make sure to describe all potential sources of uncertainty. Also, please discuss the key assumptions underlying any conclusions you obtain from your analysis. The break down of marks for this question is as follows (total 25 marks):

? motivation and practical purpose (5 marks);

? model identification (5 marks);

? estimation and testing (5 marks);

? interpretation (5 marks);

? writing and organisation (5 marks).