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(a) What is an autoregressive distributed lag (ARDL) model in time- series analysis?

(a) What is an autoregressive distributed lag (ARDL) model in time- series analysis?

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter5: Business And Economic Forecasting
Section: Chapter Questions
Problem 1.4CE
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QUESTION 4 (a) What is an autoregressive distributed lag (ARDL) model in time- series analysis? (b) Suppose you model the growth rate in the world steel price (steelgr:) as a function of the the Chinese GDP growth rate (AChinaGDP;), using quarterly data: steelgr; = 0.044 +0.45AChinaGDP; + 0.8AChinaGDP;-1 + Et What is the long-run effect on the world steel price of a decrease in the Chinese growth rate from 8.5% to 7%?
Transcribed Image Text:QUESTION 4 (a) What is an autoregressive distributed lag (ARDL) model in time- series analysis? (b) Suppose you model the growth rate in the world steel price (steelgr:) as a function of the the Chinese GDP growth rate (AChinaGDP;), using quarterly data: steelgr; = 0.044 +0.45AChinaGDP; + 0.8AChinaGDP;-1 + Et What is the long-run effect on the world steel price of a decrease in the Chinese growth rate from 8.5% to 7%?
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