Table 1: Rainfall and GDP growthRainfall growthGDP growthCountryEgyptEgyptYear2000 Quarter12001 Quarter 22000 Quarter 12001 Quarter 2| 2000 Quarter 1-11Moгоссо-2-1Morocco43Algeria3Source: World Weather Dataa. Critically discuss the type of data provided in Table 1.b. Write the theoretical equation that estimates the effect of Rainfall growth on GDP growth.Calculate the parameters of the ordinary least squares model. Interpret your results.c. Calculate the correlation coefficient and critically discuss the difference in interpreting thiscoefficient and the OLS parameters.d. We assume a model where the linear line starts from the origin. Re-derive the slope in thiscase.

Table 1: Rainfall and GDP growth Country Egypt Egypt Rainfall growth GDP growth Year 2000 Quarter1 2001 Quarter 2 -1 1 Morocco 2000 Quarter 1 2001 Quarter 2 2000 Quarter 1 -2 -1 Morocco 4 3 Algeria 3 Source: World Weather Data a. Critically discuss the type of data provided in Table 1.

Table 1: Rainfall and GDP growth Country Egypt Egypt Rainfall growth GDP growth Year 2000 Quarter1 2001 Quarter 2 -1 1 Morocco 2000 Quarter 1 2001 Quarter 2 2000 Quarter 1 -2 -1 Morocco 4 3 Algeria 3 Source: World Weather Data a. Critically discuss the type of data provided in Table 1.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter15: Measuring A Nation's Income

Section: Chapter Questions

Problem 7PA

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