Introduction to Eviews

Eviews Workshop
Workshop Outline
• Opening Eviews
• How Eviews manages data
• Importing data
• Summary statistics
• Creating and changing a series
• Running Regressions
• Performing basic tests
• Working with commands
• Saving your workfiles and textfiles
Eviews Access
• To access Eviews use an EconLab computer or a
remote desktop connection.
• To connect remotely, go to start, remote desktop
connection, type “sas.coloradocollege.edu” into
the computer field and connect using your CC
username and password.
EViews Workfile
• The workfile is the central place to keep and save
all your work Your workfile saves your groups
(data), tables, equations,
variables, and graphs in one
convenient location.

Constant in the model

Series
Equation

Graph

Group
Using Workfiles
• To create a new workfile
-FileNewWorkfile
• Data Structure
▫ Time SeriesDated/Regularfrequency +Data Range
▫ Cross Sectional Undated/unstructured # of
observations
▫ Panel balanced panel
• Save & Name
• New Pages
▫ By clicking on the “New Page” label at the bottom of the
workfile you can create new pages
Exercise 1
• Download the workshop data from the
Economics and Business Webpage
• Open the Excel file EviewsLab_data, use the
Macro Sheet.
• Create a new workfile for today’s workshop
Importing Data
• Copy and Paste Method
1. At the top, click QuickEmpty Group
2. Click on Cell 1 and press the “up” arrow on the
keyboard
3. Open Excel and copy data
4. Paste data into EViews cell 1
Directly Importing Data from Excel
• To import directly,
1. After creating a new workfile
2. Close the excel file
3. FileImport import from file
4. Browse for file
5.nextnextfinish
Exercise 2
• Import Macro Data into Excel by copy and paste
• Import Micro Data into Excel by direct import
(you’ll need to create a second workfile)
Finding Summary Statistics
• To display the summary statistics, show the
group of variables that you want to summarize
▫ Quick Group Statistics Descriptive
Statistics common sample
Exercise 3
• Using the Macro Data, create a group for your
independent variables
• Find the standard deviation for each variable
Generating New Variables
• To generate new variables,
go to your workfile.
• Click on the Genr tab, and
then type the equation you
want for your new
variable.
• When you hit enter, your
new variable will appear in
the workfile.
• To create a lag variable
type variable(-1)
Running Basic Regressions
• Creating a new Equation
▫ In your workfile:
▫ Quick Estimate Equation
Estimating Equation

Separated by spaces:
*dependent variable
*constant, c
*independent variables (or
group)

Type of regression

Sample Range
Econometric Tests and Corrections
Output of Equation Window Estimate—
modify
To run tests regression

Regression
Summary Stats—this
current view

Coefficient
Summary
Name your
equation to
save
Statistics
Residuals-test for normality
• In your equation view
--View Actual, Fitted, Residual Residual
Graph
Plotting Residuals Versus Fitted Values
• To generate fitted values
▫ In equation view: Forecast click ok
▫ Go to workfile: Object  New Object graph
▫ Graph resid “variablef”
▫ Go to options typescatter
Testing for Normality
• In equation view
▫ View Residual
DiagnosticsHisto
gram-Normality
Test
▫ Look at Jarque-
Bera stat
Correcting for Normality Problems
• To fix normality problems: you may need to
change the functional form of your model
Testing for Heteroskedasticity
• In equation view:
▫ View Residual
Tests
Heteroskedasticity
Tests
▫ Choose Test
(typically White)
▫ Look at Chi-Square
value from table
Correcting for Heteroskedasticity
• In equation view
▫ Estimate options change coefficient
covariance matrix to White

White Corrected
Testing for Multicollinearity
• Create a correlation
matrix
▫ Show your
independent variables
▫ View covariance
analysis
 Select “correlations”
(unselect
“covariance”)
 Off diagonal values
should be less than 0.6
Exercise 4
• Plot your fitted values vs. residuals
• Check for Normality of errors
• Check for multicollinearity
• Check for heteroskedasticity
Getting Help
• For general
instructions and
commands:
▫ Visit the EViews
PDFs
▫ Go to start
Programs
Eviews7 Click
on Command
Reference or User
Guides
Questions?

If you have additional questions

after today please stop by Palmer
101 F or email
Cassandra.M.Benson@ColoradoCol
lege.edu