Technological Unemployment
Posted: Sun Mar 22, 2015 5:51 am
Hi,
I am currently trying to observe the effects of patents (innovation) on the unemployment rate, accounting for many control variables such as GDP, Inflation, Interest Rates, etc. Unfortunately, I do not know which path to take. Would it be better to regress all variables as a multiple regression, treating them all as independent endogenous variables, or undertake a 2SLS regression? In all examples of 2SLS regression I have seen, the exogenous variables are influencing a independent variable on the RHS, however I want to control these variables against unemployment which I am unsure how to do.
Any assistance would be greatly appreciated.
Kind Regards.
I am currently trying to observe the effects of patents (innovation) on the unemployment rate, accounting for many control variables such as GDP, Inflation, Interest Rates, etc. Unfortunately, I do not know which path to take. Would it be better to regress all variables as a multiple regression, treating them all as independent endogenous variables, or undertake a 2SLS regression? In all examples of 2SLS regression I have seen, the exogenous variables are influencing a independent variable on the RHS, however I want to control these variables against unemployment which I am unsure how to do.
Any assistance would be greatly appreciated.
Kind Regards.