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Re: st: ST: Ramsey test interpretation


From   John Antonakis <john.antonakis@unil.ch>
To   statalist@hsphsun2.harvard.edu
Subject   Re: st: ST: Ramsey test interpretation
Date   Fri, 18 Sep 2009 15:50:03 +0200

Hi:

Well, according to Stata, yes, the model does suffer from omitted variable (given that p < .05). However, the Ramsey test is not one of omitted variables per se.

Stata should consider changing the documentation in that regard as what they note is misleading (see help for -ivreset- which is rather clear about this point).

See also: Wooldridge, J. M. (2002). Econometric analysis of cross section and panel data. Cambridge, MA.: MIT Press.

HTH,
John

____________________________________________________

Prof. John Antonakis
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University of Lausanne
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On 18.09.2009 14:02, Laura Platchkov wrote:
> Dear all,
>
> I am sorry to ask such a basic question, but I always have a doubt when interpreting the results of the ovtest:
>
> I the output of the ovtest says:
>
> "Raymsey test using the powers of the fitted value of the dependent
> Ho: model has no omiited variable
>
> F (3, 168) =3.43
> Prob > F = 0.0169"
>
> What should I conclude? Does the model suffers from ommitted variables or not?
>
> Thanks,
>
> Laura
>
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