HERC Econometrics with Observational Data
Right-hand Side Variables
Ciaran Phibbs, PhD
Seminar date: 11/6/2013
Description: Standard introductions to the OLS model pay limited attention to the right hand side variables. Several strong assumptions are made about the independent variables, including linearity and independence, that don’t always hold in health applications. This lecture will address some of the common problems with right hand side variables, and introduce methods to test for them, and methods to correct these problems. Issues to be addressed include non-linearity and functional form, multicollinearity, clustering, and robust standard errors.
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