Study skills - Sheet2

Question 1

a) wishful thinking

Answer 1

the erroneous belief that one’s wishes are in accordance with reality

Question 2

b) cross-section approach

Answer 2

The defining feature of a cross-sectional study is that it can compare different population groups at a single point in time. Think of it in terms of taking a snapshot. Findings are drawn from whatever fits into the frame.

Question 3

c) time-series aspect

Answer 3

One definition of a time series is that of a collection of quantitative observations that are evenly spaced in time and measured successively. Examples of time series include the continuous monitoring of a person’s heart rate, hourly readings of air temperature, daily closing price of a company stock, monthly rainfall data, and yearly sales figures. Time series analysis is generally used when there are 50 or more data points in a series. If the time series exhibits seasonality, there should be 4 to 5 cycles of observations in order to fit a seasonal model to the data. In general, researchers use curve fitting and parameter estimation methods (moment estimation, maximum likelihood estimation and least square method) to forecast

Question 4

d) Reinhart-Rogoff debt-threshold (2010)

Answer 4

crisis: aftermath: fiscal consolidation – if the gross external debt reaches 60 % of GDP the annual growth declines by 2 %, if it reaches 90 % the annual growth is cut in half – so no quick withdrawal of fiscal support is possible

Question 5

e) data massaging

Answer 5

data manipulation

Question 6

f) Gini coefficient

Answer 6

inequality among values e. g. levels of income

Question 7

g) Gornick-Milanovic numbers

Answer 7

examining households without members over 60 (in US people retire late)

Question 8

h) transition economy

Answer 8

from communist to very poor capitalist (Hungary) Ireland –grew too fast

Question 9

i) R-squared

Answer 9

a statistical measure of how close the data are to the fitted regression line (0-100 a number that indicates how well data fit a statistical model – sometimes simply a line or a curve j) right wingers versus progressives

Question 10

hint

Answer 10

a brief or idirect suggestion

Question 11

GDP per capita

Answer 11

gross domestic product per person

Question 12

attempt

Answer 12

effort

Question 13

causation

Answer 13

the relationship of cause and effect

Question 14

study

Answer 14

a document presenting the results of a detailed examination