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Obtain monthly unemployment data from 1/1/2010 to 12/31/2014 for the following areas; Minnesota, FRB-Minneapolis Area, Sterns county in MN. Answer the following questions for each data series separately.

A. Provide the time series plot.

B. Identify the time series characteristics. Explain.

C. Assuming no cyclical pattern, provide the best regression model for each data series.

D. Run the regression model using E-views.

E. Explain the validity of the model.

F. Do we find autocorrelation issue in the model? Explain your answer.

G. Provide the Residual plot. Describe the distribution of residuals.

H. Provide the monthly forecasted unemployment rates for 2015.

For State Data: Home > FRED® Economic Data > Categories > U.S. Regional Data

For Federal Reserve District Data: Home > FRED® Economic Data > Categories > U.S. Regional Data > Federal Reserve Districts > Minneapolis

For County Data: Home > FRED® Economic Data > Categories > U.S. Regional Data > States > Minnesota > Sterns

2.Based on the forecasted values, provide a comparative labor market analysis on unemployment rates across the three regions for year 2015.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91236942

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