Overview
Please run regressions using eviews and interpret the results for me. Do all the necessary data transformations, tests such as normality, heteroskedasticity, collinearity, cointegration, auto-correlation, stationarity. You can use whichever method,(OLS, ARIMA, MLE, ARDL OLS, etc.) whichever better suits the model. So it must be 5 seperate regressions. Please attach screenshots of eviews in your interpretation and explanation. Explain the data transformations as well. Also provide and interpret descriptive statistics. It must be correct, and not spurious. Please do not violate any assumptions of the method you have chosen. Please justify why you have chosen the method you choose.
Empirical Model
The model specification for the regression is as follows:
Yi =β0 +β1 RO +β2 INF +β3 UNEMP +ϵt
Where Y is the macroeconomic variable, i. It can be GDP Tourism, which is
the annual GDP of the tourism sector, GDP Construction, which is the annual GDP of
the construction sector, national savings, or the annual GDP of the country. Y is the
dependent variable in the study.
ROt is the remittance outflows..
INF is the inflation rate capturing macroeconomic stability.
UNEMP is the unemployment rate reflecting labor market conditions.
β0 is the intercept.
β1, β2, and β3 are the coefficients estimating the impact of remittance outflows,
inflation and unemployment on the selected dependent variable (Y).
ϵ is the error term, added at the end to capture any unobserved factors