Please help me finish the problem set using the data given. Carbon dioxide (CO2) emissions are widely believed to be a driver of global climate change. Â In this problem set you will use cross-section data to test what drives countriesâ€™ â€œcarbon footprints,â€ that is, their CO2 emissions. Is it population, or is income the bigger culprit?
The data set â€œCO2 by country 2010shâ€ contains data on many countriesâ€™ CO2 emissions, in kilotons; population, in millions; and gross national income (GNI), in millions of US dollars, for the year 2010.
1.Please propose a linear regression model to estimate the effect of population on CO2 emissions, and explain what the parameters and variables in this model are.Â
2.Now estimate this model in Excel, like we did in class, using ordinary least squares. Report and interpret your estimated parameters here. What is the elasticity of CO2 emissions with respect to population?
3.Propose an economic theory to justify adding the income variable to your regression, briefly describing the theory and its assumptions and showing us what your multiple regression model looks like here:
4.Now expand your Excel spreadsheet and use OLS to estimate your multiple regression model. Report and interpret your results here:
5.What is the elasticity of CO2 emissions with respect to GNI?
6.Does the inclusion of GNI in your regression model affect your estimated elasticity of CO2 emissions with respect to population? Why or why not?
7.Based on your findings, what would you conclude is the main driver of countriesâ€™ carbon footprintsâ€”population or income? Please explain.
8.Based on your regression model, do income and population explain the difference in observed CO2 emissions between China and the United States? Explain.
9.Compare the R-squared from the simple and multiple regression. What explains the difference between the two?
Please help me finish the problem set using the data given.
Carbon dioxide (CO2) emissions are widely believed to be a driver of global climate change. Â In this problem set you will use cross-section data to test what drives countriesâ€™ â€œcarbon footprints,â€ that is, their CO2 emissions. Is it population, or is income the bigger culprit?
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