OTHER FEATURES CARRIED OVERFROM MICROFIT 3.0: Data
Management Data can be entered in a variety of ways: directly from the keyboard, from raw ASCII files, or from files previously prepared and saved from Microfit by the user.
Files may then be manipulated as required, saved and
retrieved quickly in the binary format unique to this
program, or output to ASCII files as raw data. Data
Transformations Microfit facilitates data transformations with its functions allowing the computation of new series as algebraic transforms of existing data using standard arithmetic operators. Moreover, it permits the generation of time trends, seasonal dummies, and random numbers from UNIFORM and NORMAL distributions. General
Statistics Microfit computes the following: means standard deviations measures of skewness
and Kurtosis the coefficient of
variation the minimum and
maximum of a series autocorrelation
coefficients with standard errorsBox-Pierce and
Ljung-Box statistics the matrix of
correlation coefficients Estimation
Techniques Ordinary Least Squares
(OLS) Recursive Least
Squares Generalized
Instrumental Variables (IV) Two-Stage Least
Squares (2SLS) Cochrane-Orcutt
iterative technique (CO) Exact Minimum
Likelihood (ML) and InstrumentalVariable (IV)
estimation of models with serially correlated errors Non-linear Least
Squares (NLS) Non-linear Two-stage
Least Squares and the generalized methods of
moments Johansen method of
maximum likelihood estimation of
co-integrated systems Rolling (moving
window) regression (OLS) Rolling (moving
window) regression (2SLS) Moving-average maximum
likelihood estimation Moving-average
estimation using instrumental variables |
FORCASTING AND SIMULATION Static
and Dynamic Forecasts Microfit produces static or dynamic forecasts of single and multivariate regression models, and forecast errors and useful summary statistics. Should the regression include lagged dependent variables, the program automatically computes dynamic forecasts: otherwise static forecasts are generated. The plot of actual and forecast values is also given. Dynamic
Simulation By using the SIM command the user can simulate dynamically any non-linear single-equation model. A backward dynamic simulator command is also incorporated as a useful additional feature. ©Oxford University Press Ltd & Camfit Data Limited, 1996. |