Author Archives: ad

Omitted Variable Bias: Explaining the Bias

In the previous two posts on the Omitted Variable Bias (Post 1 and Post 2), we discussed the hypothetical case of finding out what determines the price of a car. In the hypothetical example, we assumed, for simplicity, that the … Continue reading

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Omitted Variable Bias: Understanding the Bias

The second part of the series on the Omitted Variable Bias intends to increase the readers understanding of the bias. Let’s continue with the example from the Introduction. Let the dependent variable be the price of a car and the … Continue reading

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Omitted Variable Bias: Introduction

The omitted variable bias is a common and serious problem in regression analysis. Generally, the problem arises if one does not consider all relevant variables in a regression. In this case, one violates the first assumption of the assumption of … Continue reading

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How to Read an Excel File dircetly form the Web in Julia Language?

In a former blog post (see here) I described how to read an Excel file into Julia. In this post I will focus on how to import an Excel file directly from the Web. This feature might be especially useful … Continue reading

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Create Venn-Diagram in R

A Venn diagram (also sometimes also called primary diagram or set diagram) is a diagram that depicts all possible logical relations between a collection of sets. Certain subjects, such as omitted variable bias, can be best be explained by using a … Continue reading

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How to Read an Excel File in Julia Language? An example.

This article shortly describes how to read an Excel file into Julia. Generally, one can use different libraries to read Excel files, including XLSXReader , ExcelReaders or Taro. In this tutorial I will focus on Taro as it created the fewest problems … Continue reading

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Tobin’s q-Investment Theory

In the 60s and 70s, economists including Nicholas Kaldor and James Tobin came up with an alternative investment theory: the q-investment theory, sometimes also referred to as Tobin’s q-investment theory. At its core, Tobin’s q theory of investment relates fluctuations … Continue reading

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