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: [email protected]
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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