Relationship Between these Three Variables - Dependent Variable and GDP - Data Analytics Assignment Help

Assignment Task:

Data Analysis 2 Assignment Help

Part 1: data prep: 4p

• Consider how demand may be correlated with commodity prices.

• Pick a developed country with good and long (at least from 1992) time series on quarterly GDP.

• Pick a commodity (such as gold or corn) with a long (at least from 1992) time series.

• Collect data for quarterly GDP, the Brent oil price and your commodity of choice and create a quartely dataset.

• Discuss how you created quarterly data from commodity price data you collected.

Part 2: 6p

• Show graphically the relationship between these three variables

• Estimate a time series regression with oil price as the dependent variable and GDP as the explanatory variable, perhaps in changes or relative changes.

• Think about lag structure.

• Repeat the exercise for another commodity.

• Argue for all the modelling choices you make.

• Discuss your results

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