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Econometrics - Predicting Saving or Consumption Behaviour after the 2008 Financial Crisis

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Component 2: This assessment will be agroup portfolio of 2,000 words reportThe assessments will be completed during the duration of the module in term 2.Details of the task:For this assignment, you are tasked with constructing a forecasting model of your chosen country’s(MY COUNTRY IS GHANA)saving behavior using the VAR/VECM approach. You will use your model to assess whether or not there has been a structural break in the country’s saving(or consumption)function since the onset of the financial crisis in the last quarter of 2007. You will need to demonstrate the model’s usefulness by showing that it is able to predict, within sample, the behavior of the actual saving(or consumption)rate for 1961q1–2007q4.After you have formulated your preferred model for the savi

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Null Hypothesis: LOG(CONS) has a unit root


Exogenous: Constant



Lag Length: 4 (Automatic - based on SIC, maxlag=14)












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