* OLS Model for the US Consumption Function * * Keywords: * regression, ols, consumption, income, US * * Description: * We illustrate how to estimate a Linear OLS Model for the US Consumption * Function * * Author(s): * Skif Pankov * * Source: * Damodar N. Gujarati and Dawn C. Porter, Basic Econometrics - 5th Edition * McGraw-Hill International Edition, Chapter 3, Example 3.1 (page 81) * sample 1 46 * Read the datafile and name the variables read (data_3.1.shd) year pce gdp * Run an OLS regression - pce on gdp, specifying to display residual summary * statistics ols pce gdp / rstat stop