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Linear Regression Models with Logarithmic Transformations
kenbenoit.net24 68 0 20 40 60 80 100 Log(Expenses) 3 Interpreting coefficients in logarithmically models with logarithmic transformations 3.1 Linear model: Yi = + Xi + i Recall that in the linear regression model, logYi = + Xi + i, the coefficient gives us directly the change in Y for a one-unit change in X.No additional interpretation is required beyond the
Linear Regression Models with Logarithmic Transformations
kenbenoit.netlinear-log model, the log-linear model2, and the log-log model. X Y X logX Y linear linear-log Y^ i = + Xi Y^i = + logXi logY log-linear log-log logY^ ... to as elastic in econometrics, and the coefficient of logX is referred to as an elasticity. So in terms of …