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- Fri Mar 27, 2015 3:57 am
- Forum: Econometric Discussions
- Topic: OLS estimation; small standard error
- Replies: 0
- Views: 1760
OLS estimation; small standard error
Hi, I have a question regarding small standard errors regarding question 11.7 in Wooldridge about the wages and productivity. The coefficient for productivity(outputhr)=1.64, hence a one percentage increase in productivity increases real wage by 1.64%, and the standard error is (0.09). In the interp...