Empirical Project Group 3 Rough

Draft
by Tahmeed Jawad

Submission date: 22-Feb-2021 05:39PM (UTC-0500)

Submission ID: 1515612731
File name: 21416.202025_103795554_1056437890_Empirical_Project_Group_3_Rough_Draft.pdf (110.99K)
Word count: 1828
Character count: 9792
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Empirical Project Group 3 Rough Draft
GRADEMARK REPORT

FINAL GRADE GENERAL COMMENTS

Instructor

80
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/100

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QM Awk.
Awkward:
The expression or construction is cumbersome or difficult to read. Consider rewriting.
Additional Comment

Vague/awkward writing

As noted on your proposal, you should consult the Drexel Writing Center for writing assistance.

Comment 1
Long list of references, but it is not terribly clear how these relate directly to your research question
and empirical design. It may be more effective to simply note those that are most closely related to
your own approach and explain exactly how these are related (here or later in the paper, as
appropriate).

Comment 2
Consumption of what?

Comment 3
Why are these the relevant explanatory variables? This requires explanation that is missing from
previous section.

Comment 4
Why not look at the effect of oil prices directly? And how would CO2 emissions affect prices
 anyhow?

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Comment 5
NO!

Your analysis MUST use cross-sectional data. Use of cross-country data is not an optional
extension.

Comment 6
Is this what led you to your choice of model specification?

It is likely that you will want to incorporate country-level data from other sources as macroeconomic
control variables.

Comment 7
Drop "storytelling" approach to describing your research project.

The goal of describing your data work should be limited to ensuring that someone could replicate
your results.

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Comment 8
Sample restriction results in ~14% reduction in sample size. This is a relatively important cut without
justifying why these are problematic. I imagine there are many country-year observations with 0 oil
production that are dropped, for example, but why shouldn't you examine the effect of oil price
shocks on their economy as well?

In fact, it would be very interesting to see whether the effects of oil price shocks differ according to
whether countries are oil producers and/or net exporters.

Comment 9
This should not be your starting point.

At a minimum, you should show the OLS results first and justify your concerns about outliers (already
not an obvious concern even before fairly radical sample restriction above).

Comment 10
N = 17?!? What happened to your sample? Is this just for the U.S.? Extraordinarily high R2 is an
artifact of improperly estimating a time series process. Drop.
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Comment 11
Still no country or year dummies.

Consider the role of unmodeled country size

Comment 12
You have not really explained what you are hoping to learn from your regression model, so it is hard
to begin to think about causal identification.

Choosing your model based on the data you found from a single source does not allow you to
demonstrate mastery of econometric principles, which is what should guide your analysis.

See me to discuss your plans for making successful progress towards completing a satisfactory
project.

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