We shall guide you through an example, but be prepared for differences from what we show here. Websites are continually updated and improved. As suggested in Chapter 17, the website Resources for Economists contains a wide variety of data, and in particular the macro data we seek. Suppose you are interested in analyzing the GDP of the United States. Now we have access to rich data sources which are a few clicks away. Before the Internet, hours would be spent in libraries, looking for and copying data by hand. Getting data for economic research is much easier today than it was years ago.
The first step is to create the Excel data file. In this chapter, we show you how to create a workfile and how to import data from an Excel spreadsheet. Up to now we have taken you through various econometric methodologies and applications using already prepared EViews workfiles.
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