Hi,
How do interpret regression results with time series data?
If the period covered is 20 years take for example this regression
\(\displaystyle y_t=\beta_0+\beta_1(y)+\epsilon_t\)
if the coefficient on \(\displaystyle \beta_1\) is 500 for example how would I interpret that? Is it the same as a standard regression? A 1 unit increase in \(\displaystyle \beta_1\) is associated with a 500 unit increase in \(\displaystyle y_t\)?
Thank you!
How do interpret regression results with time series data?
If the period covered is 20 years take for example this regression
\(\displaystyle y_t=\beta_0+\beta_1(y)+\epsilon_t\)
if the coefficient on \(\displaystyle \beta_1\) is 500 for example how would I interpret that? Is it the same as a standard regression? A 1 unit increase in \(\displaystyle \beta_1\) is associated with a 500 unit increase in \(\displaystyle y_t\)?
Thank you!