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st: Lagged regression DVs: gross or net?


From   "Clive Nicholas" <Clive.Nicholas@newcastle.ac.uk>
To   statalist@hsphsun2.harvard.edu
Subject   st: Lagged regression DVs: gross or net?
Date   Wed, 25 Feb 2004 00:48:54 -0000 (GMT)

All,

When running regression models with lagged terms, is it better to use a
dependent variable measured by _levels_ or by _first differences_? Or does
it not matter?

I ask since the use of any RHS lagged term transforms its interpretation
into one where a short-term process of adjustment is being described.

Thanks.

CLIVE NICHOLAS        |t: 0(44)191 222 5969
Politics Building     |e: clive.nicholas@ncl.ac.uk
School of Geography,  |f: 0(44)870 126 2421
 Politics & Sociology |
University of         |
 Newcastle-upon-Tyne  |
Newcastle-upon-Tyne   |
NE1 7RU		      |
United Kingdom	      |http://www.ncl.ac.uk/geps
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