---------------------------------------------------------------------------------------------------------- name: log: /Users/erikskutle/Documents/thesis.log log type: text opened on: 19 Dec 2021, 18:30:40 . . *we want to extract some descriptive statistics* . . sum Pris Prisant BRA Prisdiff Byggeår Styringsrente Navledighet BNP SentimentDagJustert SentimentL1Juste > rt SentimentL7Justert SentimentL30Justert SentimentL90Justert Variable | Obs Mean Std. Dev. Min Max -------------+--------------------------------------------------------- Pris | 95,999 4989641 2858834 16985 7.11e+07 Prisant | 95,933 4838963 2867126 250000 8.00e+07 BRA | 95,369 77.32524 48.04952 0 1009 Prisdiff | 95,999 154004.3 489327.8 -1.52e+07 4.40e+07 Byggeår | 95,828 1957.57 42.81177 0 2021 -------------+--------------------------------------------------------- Styringsre~e | 95,999 .6143189 .4135891 0 1.5 Navledighet | 95,999 13830.62 8513.274 9010 53453 BNP | 94,729 .3516389 1.191661 -4.5 2.4 SentimentD~t | 90,706 1.526069 1.108341 -.5502959 11.18227 Sen~1Justert | 89,143 1.512186 1.052436 -.9847919 11.18227 -------------+--------------------------------------------------------- Sen~7Justert | 94,019 1.253035 .7077361 .0317937 3.320259 Se~30Justert | 92,650 1.217854 .6289413 .2066402 2.789073 Se~90Justert | 89,238 1.194559 .5877975 .34484 2.410889 . . *we want some histograms to show the span in the data* . . histogram Pris (bin=49, start=16985, width=1450673.8) . . histogram SentimentDagJustert (bin=49, start=-.55029586, width=.23944017) . . histogram SentimentL90Justert (bin=49, start=.34484004, width=.04216426) . . *we regress the different sentiment lags on price, without any control variables* . . *we store each regression, and name them reg1, reg2 etc* . . reg Pris SentimentDagJustert Source | SS df MS Number of obs = 90,706 -------------+---------------------------------- F(1, 90704) = 176.42 Model | 1.4485e+15 1 1.4485e+15 Prob > F = 0.0000 Residual | 7.4475e+17 90,704 8.2107e+12 R-squared = 0.0019 -------------+---------------------------------- Adj R-squared = 0.0019 Total | 7.4619e+17 90,705 8.2266e+12 Root MSE = 2.9e+06 ------------------------------------------------------------------------------------- Pris | Coef. Std. Err. t P>|t| [95% Conf. Interval] --------------------+---------------------------------------------------------------- SentimentDagJustert | 114018.7 8584.239 13.28 0.000 97193.72 130843.8 _cons | 4833956 16190.55 298.57 0.000 4802223 4865690 ------------------------------------------------------------------------------------- . . estimates store reg1 . . reg Pris SentimentL1Justert Source | SS df MS Number of obs = 89,143 -------------+---------------------------------- F(1, 89141) = 262.73 Model | 2.1579e+15 1 2.1579e+15 Prob > F = 0.0000 Residual | 7.3214e+17 89,141 8.2133e+12 R-squared = 0.0029 -------------+---------------------------------- Adj R-squared = 0.0029 Total | 7.3430e+17 89,142 8.2374e+12 Root MSE = 2.9e+06 ------------------------------------------------------------------------------------ Pris | Coef. Std. Err. t P>|t| [95% Conf. Interval] -------------------+---------------------------------------------------------------- SentimentL1Justert | 147833.9 9120.571 16.21 0.000 129957.7 165710.2 _cons | 4796174 16803.44 285.43 0.000 4763240 4829109 ------------------------------------------------------------------------------------ . . estimates store reg2 . . reg Pris SentimentL7Justert Source | SS df MS Number of obs = 94,019 -------------+---------------------------------- F(1, 94017) = 464.32 Model | 3.8057e+15 1 3.8057e+15 Prob > F = 0.0000 Residual | 7.7058e+17 94,017 8.1962e+12 R-squared = 0.0049 -------------+---------------------------------- Adj R-squared = 0.0049 Total | 7.7439e+17 94,018 8.2366e+12 Root MSE = 2.9e+06 ------------------------------------------------------------------------------------ Pris | Coef. Std. Err. t P>|t| [95% Conf. Interval] -------------------+---------------------------------------------------------------- SentimentL7Justert | 284275.2 13192.55 21.55 0.000 258417.9 310132.4 _cons | 4652680 18985.27 245.07 0.000 4615469 4689891 ------------------------------------------------------------------------------------ . . estimates store reg3 . . reg Pris SentimentL30Justert Source | SS df MS Number of obs = 92,650 -------------+---------------------------------- F(1, 92648) = 473.48 Model | 3.9019e+15 1 3.9019e+15 Prob > F = 0.0000 Residual | 7.6352e+17 92,648 8.2411e+12 R-squared = 0.0051 -------------+---------------------------------- Adj R-squared = 0.0051 Total | 7.6742e+17 92,649 8.2831e+12 Root MSE = 2.9e+06 ------------------------------------------------------------------------------------- Pris | Coef. Std. Err. t P>|t| [95% Conf. Interval] --------------------+---------------------------------------------------------------- SentimentL30Justert | 326294.9 14995.5 21.76 0.000 296903.9 355686 _cons | 4625752 20553.86 225.06 0.000 4585466 4666037 ------------------------------------------------------------------------------------- . . estimates store reg4 . . reg Pris SentimentL90Justert Source | SS df MS Number of obs = 89,238 -------------+---------------------------------- F(1, 89236) = 400.36 Model | 3.3414e+15 1 3.3414e+15 Prob > F = 0.0000 Residual | 7.4478e+17 89,236 8.3462e+12 R-squared = 0.0045 -------------+---------------------------------- Adj R-squared = 0.0045 Total | 7.4812e+17 89,237 8.3835e+12 Root MSE = 2.9e+06 ------------------------------------------------------------------------------------- Pris | Coef. Std. Err. t P>|t| [95% Conf. Interval] --------------------+---------------------------------------------------------------- SentimentL90Justert | 329204.6 16452.92 20.01 0.000 296957 361452.1 _cons | 4658247 21904.49 212.66 0.000 4615314 4701179 ------------------------------------------------------------------------------------- . . estimates store reg5 . . *we create a table with all the regressions side by side* . . esttab reg1 reg2 reg3 reg4 reg5 -------------------------------------------------------------------------------------------- (1) (2) (3) (4) (5) Pris Pris Pris Pris Pris -------------------------------------------------------------------------------------------- SentimentD~t 114018.7*** (13.28) Sen~1Justert 147833.9*** (16.21) Sen~7Justert 284275.2*** (21.55) Se~30Justert 326294.9*** (21.76) Se~90Justert 329204.6*** (20.01) _cons 4833956.2*** 4796174.3*** 4652679.9*** 4625751.7*** 4658246.9*** (298.57) (285.43) (245.07) (225.06) (212.66) -------------------------------------------------------------------------------------------- N 90706 89143 94019 92650 89238 -------------------------------------------------------------------------------------------- t statistics in parentheses * p<0.05, ** p<0.01, *** p<0.001 . . *we regress the different sentiment lags on the housing price index* . . *we store each regression, and name them reg6, reg7 etc* . . reg BPIndexO SentimentDagJustert Source | SS df MS Number of obs = 90,706 -------------+---------------------------------- F(1, 90704) = 15470.01 Model | 5358666.34 1 5358666.34 Prob > F = 0.0000 Residual | 31419007.6 90,704 346.39054 R-squared = 0.1457 -------------+---------------------------------- Adj R-squared = 0.1457 Total | 36777673.9 90,705 405.464681 Root MSE = 18.612 ------------------------------------------------------------------------------------- BPIndexO | Coef. Std. Err. t P>|t| [95% Conf. Interval] --------------------+---------------------------------------------------------------- SentimentDagJustert | 6.934883 .0557563 124.38 0.000 6.825602 7.044165 _cons | 295.3952 .1051608 2808.99 0.000 295.1891 295.6013 ------------------------------------------------------------------------------------- . . estimates store reg6 . . reg BPIndexO SentimentL1Justert Source | SS df MS Number of obs = 89,143 -------------+---------------------------------- F(1, 89141) = 14141.90 Model | 4895508.79 1 4895508.79 Prob > F = 0.0000 Residual | 30857978 89,141 346.170427 R-squared = 0.1369 -------------+---------------------------------- Adj R-squared = 0.1369 Total | 35753486.8 89,142 401.084638 Root MSE = 18.606 ------------------------------------------------------------------------------------ BPIndexO | Coef. Std. Err. t P>|t| [95% Conf. Interval] -------------------+---------------------------------------------------------------- SentimentL1Justert | 7.04145 .0592118 118.92 0.000 6.925396 7.157505 _cons | 295.5488 .1090898 2709.22 0.000 295.3349 295.7626 ------------------------------------------------------------------------------------ . . estimates store reg7 . . reg BPIndexO SentimentL7Justert Source | SS df MS Number of obs = 94,019 -------------+---------------------------------- F(1, 94017) = 43576.19 Model | 11513002.5 1 11513002.5 Prob > F = 0.0000 Residual | 24839666.6 94,017 264.203991 R-squared = 0.3167 -------------+---------------------------------- Adj R-squared = 0.3167 Total | 36352669.2 94,018 386.656482 Root MSE = 16.254 ------------------------------------------------------------------------------------ BPIndexO | Coef. Std. Err. t P>|t| [95% Conf. Interval] -------------------+---------------------------------------------------------------- SentimentL7Justert | 15.6357 .0749019 208.75 0.000 15.4889 15.78251 _cons | 286.4415 .1077906 2657.39 0.000 286.2303 286.6528 ------------------------------------------------------------------------------------ . . estimates store reg8 . . reg BPIndexO SentimentL30Justert Source | SS df MS Number of obs = 92,650 -------------+---------------------------------- F(1, 92648) = 66047.55 Model | 13793845.3 1 13793845.3 Prob > F = 0.0000 Residual | 19349275.2 92,648 208.847198 R-squared = 0.4162 -------------+---------------------------------- Adj R-squared = 0.4162 Total | 33143120.5 92,649 357.727774 Root MSE = 14.452 ------------------------------------------------------------------------------------- BPIndexO | Coef. Std. Err. t P>|t| [95% Conf. Interval] --------------------+---------------------------------------------------------------- SentimentL30Justert | 19.40047 .075489 257.00 0.000 19.25251 19.54843 _cons | 283.1165 .1034704 2736.21 0.000 282.9137 283.3193 ------------------------------------------------------------------------------------- . . estimates store reg9 . reg BPIndexO SentimentL90Justert Source | SS df MS Number of obs = 89,238 -------------+---------------------------------- F(1, 89236) = 86965.73 Model | 13327062.8 1 13327062.8 Prob > F = 0.0000 Residual | 13674970.6 89,236 153.244998 R-squared = 0.4936 -------------+---------------------------------- Adj R-squared = 0.4936 Total | 27002033.4 89,237 302.587866 Root MSE = 12.379 ------------------------------------------------------------------------------------- BPIndexO | Coef. Std. Err. t P>|t| [95% Conf. Interval] --------------------+---------------------------------------------------------------- SentimentL90Justert | 20.7906 .0705006 294.90 0.000 20.65242 20.92878 _cons | 283.4919 .0938605 3020.35 0.000 283.3079 283.6758 ------------------------------------------------------------------------------------- . . estimates store reg10 . . *we create a table with all the regressions side by side* . . *we then want to regress the sentiment on the different lags* . . *this time with control variables* . . *we store each regression, and name them reg11, reg12 etc* . . reg Pris SentimentDagJustert BRA Byggeår D_renteoppgang D_rentenedgang Styringsrente Navledighet BNP Ind > exKvartal Source | SS df MS Number of obs = 89,964 -------------+---------------------------------- F(9, 89954) = 19723.79 Model | 4.9297e+17 9 5.4774e+16 Prob > F = 0.0000 Residual | 2.4981e+17 89,954 2.7771e+12 R-squared = 0.6637 -------------+---------------------------------- Adj R-squared = 0.6636 Total | 7.4277e+17 89,963 8.2564e+12 Root MSE = 1.7e+06 ------------------------------------------------------------------------------------- Pris | Coef. Std. Err. t P>|t| [95% Conf. Interval] --------------------+---------------------------------------------------------------- SentimentDagJustert | 19562.23 5498.737 3.56 0.000 8784.761 30339.71 BRA | 48273.02 115.7288 417.12 0.000 48046.19 48499.84 Byggeår | -3082.716 129.4251 -23.82 0.000 -3336.388 -2829.044 D_renteoppgang | -86296.94 24035.19 -3.59 0.000 -133405.7 -39188.2 D_rentenedgang | -191647.9 29748.79 -6.44 0.000 -249955.3 -133340.6 Styringsrente | -105650.5 17117.04 -6.17 0.000 -139199.7 -72101.24 Navledighet | -.0936073 1.162121 -0.08 0.936 -2.371354 2.184139 BNP | 18745.65 5971.924 3.14 0.002 7040.741 30450.57 IndexKvartal | 50492.81 1244.764 40.56 0.000 48053.09 52932.54 _cons | 6805962 253125 26.89 0.000 6309840 7302085 ------------------------------------------------------------------------------------- . . estimates store reg11 . . reg Pris SentimentL1Justert BRA Byggeår D_renteoppgang D_rentenedgang Styringsrente Navledighet BNP Inde > xKvartal Source | SS df MS Number of obs = 88,418 -------------+---------------------------------- F(9, 88408) = 19581.87 Model | 4.8677e+17 9 5.4085e+16 Prob > F = 0.0000 Residual | 2.4418e+17 88,408 2.7620e+12 R-squared = 0.6659 -------------+---------------------------------- Adj R-squared = 0.6659 Total | 7.3095e+17 88,417 8.2671e+12 Root MSE = 1.7e+06 ------------------------------------------------------------------------------------ Pris | Coef. Std. Err. t P>|t| [95% Conf. Interval] -------------------+---------------------------------------------------------------- SentimentL1Justert | 28218.67 5790.838 4.87 0.000 16868.68 39568.66 BRA | 48260.14 116.1376 415.54 0.000 48032.51 48487.77 Byggeår | -3145.21 131.273 -23.96 0.000 -3402.504 -2887.916 D_renteoppgang | -87912.36 24316.31 -3.62 0.000 -135572.1 -40252.61 D_rentenedgang | -195981.6 29370.93 -6.67 0.000 -253548.4 -138414.9 Styringsrente | -107056.9 17223.82 -6.22 0.000 -140815.5 -73298.39 Navledighet | -.2250693 1.166499 -0.19 0.847 -2.511397 2.061259 BNP | 19050.32 5964.383 3.19 0.001 7360.182 30740.45 IndexKvartal | 49966.85 1251.506 39.93 0.000 47513.92 52419.79 _cons | 6930003 256711.3 27.00 0.000 6426852 7433155 ------------------------------------------------------------------------------------ . . estimates store reg12 . . reg Pris SentimentL7Justert BRA Byggeår D_renteoppgang D_rentenedgang Styringsrente Navledighet BNP Inde > xKvartal Source | SS df MS Number of obs = 93,260 -------------+---------------------------------- F(9, 93250) = 20344.92 Model | 5.1077e+17 9 5.6752e+16 Prob > F = 0.0000 Residual | 2.6012e+17 93,250 2.7895e+12 R-squared = 0.6626 -------------+---------------------------------- Adj R-squared = 0.6625 Total | 7.7089e+17 93,259 8.2662e+12 Root MSE = 1.7e+06 ------------------------------------------------------------------------------------ Pris | Coef. Std. Err. t P>|t| [95% Conf. Interval] -------------------+---------------------------------------------------------------- SentimentL7Justert | 71243.68 9772.809 7.29 0.000 52089.08 90398.28 BRA | 48367.59 114.1581 423.69 0.000 48143.84 48591.34 Byggeår | -3119.731 128.0017 -24.37 0.000 -3370.613 -2868.849 D_renteoppgang | -83469.94 23270.64 -3.59 0.000 -129080.2 -37859.74 D_rentenedgang | -173624.3 29472.88 -5.89 0.000 -231390.8 -115857.8 Styringsrente | -116866.5 17094.52 -6.84 0.000 -150371.6 -83361.4 Navledighet | -2.110343 1.198111 -1.76 0.078 -4.458628 .237942 BNP | 12517.94 5944.485 2.11 0.035 866.8113 24169.07 IndexKvartal | 48308.49 1286.486 37.55 0.000 45786.99 50829.99 _cons | 6872652 250315.7 27.46 0.000 6382036 7363268 ------------------------------------------------------------------------------------ . . estimates store reg13 . . reg Pris SentimentL30Justert BRA Byggeår D_renteoppgang D_rentenedgang Styringsrente Navledighet BNP Ind > exKvartal Source | SS df MS Number of obs = 91,898 -------------+---------------------------------- F(9, 91888) = 20055.40 Model | 5.0622e+17 9 5.6246e+16 Prob > F = 0.0000 Residual | 2.5770e+17 91,888 2.8046e+12 R-squared = 0.6627 -------------+---------------------------------- Adj R-squared = 0.6626 Total | 7.6392e+17 91,897 8.3128e+12 Root MSE = 1.7e+06 ------------------------------------------------------------------------------------- Pris | Coef. Std. Err. t P>|t| [95% Conf. Interval] --------------------+---------------------------------------------------------------- SentimentL30Justert | 81665.78 12167.02 6.71 0.000 57818.54 105513 BRA | 48493.29 115.1555 421.11 0.000 48267.59 48719 Byggeår | -3131.93 128.9954 -24.28 0.000 -3384.759 -2879.1 D_renteoppgang | -88733 23317.94 -3.81 0.000 -134435.9 -43030.09 D_rentenedgang | -180061.7 29787.22 -6.04 0.000 -238444.3 -121679 Styringsrente | -100960.4 17288.71 -5.84 0.000 -134846.1 -67074.71 Navledighet | -1.447092 1.258894 -1.15 0.250 -3.914512 1.020328 BNP | 14011.32 6059.39 2.31 0.021 2134.978 25887.66 IndexKvartal | 45937.86 1360.477 33.77 0.000 43271.34 48604.38 _cons | 6888715 252259.4 27.31 0.000 6394290 7383141 ------------------------------------------------------------------------------------- . . estimates store reg14 . . reg Pris SentimentL90Justert BRA Byggeår D_renteoppgang D_rentenedgang Styringsrente Navledighet BNP Ind > exKvartal Source | SS df MS Number of obs = 88,523 -------------+---------------------------------- F(9, 88513) = 19427.19 Model | 4.9445e+17 9 5.4939e+16 Prob > F = 0.0000 Residual | 2.5031e+17 88,513 2.8280e+12 R-squared = 0.6639 -------------+---------------------------------- Adj R-squared = 0.6639 Total | 7.4476e+17 88,522 8.4133e+12 Root MSE = 1.7e+06 ------------------------------------------------------------------------------------- Pris | Coef. Std. Err. t P>|t| [95% Conf. Interval] --------------------+---------------------------------------------------------------- SentimentL90Justert | 97811.95 14355.36 6.81 0.000 69675.57 125948.3 BRA | 48852.9 117.6706 415.17 0.000 48622.26 49083.53 Byggeår | -3187.252 132.8119 -24.00 0.000 -3447.563 -2926.942 D_renteoppgang | -71989.21 23687.05 -3.04 0.002 -118415.6 -25562.81 D_rentenedgang | -110465.6 37770.81 -2.92 0.003 -184496 -36435.12 Styringsrente | -96897.53 17514.57 -5.53 0.000 -131225.9 -62569.13 Navledighet | -1.986341 1.375843 -1.44 0.149 -4.682981 .7102992 BNP | 11351.13 6255.675 1.81 0.070 -909.9381 23612.19 IndexKvartal | 41880.15 1456.069 28.76 0.000 39026.26 44734.03 _cons | 7009833 259798.3 26.98 0.000 6500631 7519035 ------------------------------------------------------------------------------------- . . estimates store reg15 . . *we create a table with all the regressions side by side* . . esttab reg11 reg12 reg13 reg14 reg15 -------------------------------------------------------------------------------------------- (1) (2) (3) (4) (5) Pris Pris Pris Pris Pris -------------------------------------------------------------------------------------------- SentimentD~t 19562.2*** (3.56) BRA 48273.0*** 48260.1*** 48367.6*** 48493.3*** 48852.9*** (417.12) (415.54) (423.69) (421.11) (415.17) Byggeår -3082.7*** -3145.2*** -3119.7*** -3131.9*** -3187.3*** (-23.82) (-23.96) (-24.37) (-24.28) (-24.00) D_renteopp~g -86296.9*** -87912.4*** -83469.9*** -88733.0*** -71989.2** (-3.59) (-3.62) (-3.59) (-3.81) (-3.04) D_rentened~g -191647.9*** -195981.6*** -173624.3*** -180061.7*** -110465.6** (-6.44) (-6.67) (-5.89) (-6.04) (-2.92) Styringsre~e -105650.5*** -107056.9*** -116866.5*** -100960.4*** -96897.5*** (-6.17) (-6.22) (-6.84) (-5.84) (-5.53) Navledighet -0.0936 -0.225 -2.110 -1.447 -1.986 (-0.08) (-0.19) (-1.76) (-1.15) (-1.44) BNP 18745.7** 19050.3** 12517.9* 14011.3* 11351.1 (3.14) (3.19) (2.11) (2.31) (1.81) IndexKvartal 50492.8*** 49966.9*** 48308.5*** 45937.9*** 41880.1*** (40.56) (39.93) (37.55) (33.77) (28.76) Sen~1Justert 28218.7*** (4.87) Sen~7Justert 71243.7*** (7.29) Se~30Justert 81665.8*** (6.71) Se~90Justert 97811.9*** (6.81) _cons 6805962.3*** 6930003.4*** 6872651.8*** 6888715.3*** 7009832.9*** (26.89) (27.00) (27.46) (27.31) (26.98) -------------------------------------------------------------------------------------------- N 89964 88418 93260 91898 88523 -------------------------------------------------------------------------------------------- t statistics in parentheses * p<0.05, ** p<0.01, *** p<0.001 . . . *we would then like to test the robustness of the model* . . *we start out with a couple of scatterplots to confirm that the relationships are linear* . . twoway (scatter BPIndexO SentimentDagJustert) (lfit BPIndexO SentimentDagJustert) . . twoway (scatter BPIndexO SentimentL90Justert) (lfit BPIndexO SentimentL90Justert) . . *we want to see if there is a linear relationship for the national data too* . . twoway (scatter BPIndexN SentimentL90Justert) (lfit BPIndexN SentimentL90Justert) . . *we want a correlation matrix to confirm that we have no perfect collinearity* . . corr Pris SentimentDagJustert BRA Byggeår D_renteoppgang D_rentenedgang Styringsrente Navledighet BNP In > dexKvartal (obs=89,964) | Pris Sentim.. BRA Byggeår D_~pgang D_~dgang Styrin~e Navled~t BNP IndexK~l -------------+------------------------------------------------------------------------------------------ Pris | 1.0000 SentimentD~t | 0.0439 1.0000 BRA | 0.8067 0.0015 1.0000 Byggeår | 0.0407 0.0047 0.1046 1.0000 D_renteopp~g | 0.0028 -0.0325 0.0003 0.0057 1.0000 D_rentened~g | -0.0021 0.1622 -0.0006 0.0034 -0.0638 1.0000 Styringsre~e | -0.0159 -0.0756 -0.0021 0.0098 0.3396 -0.2002 1.0000 Navledighet | 0.0411 0.3280 -0.0030 0.0087 -0.1276 0.5213 -0.3713 1.0000 BNP | 0.0160 -0.0739 0.0092 -0.0021 0.0494 -0.1790 -0.1597 -0.4387 1.0000 IndexKvartal | 0.1036 0.3629 0.0043 0.0241 0.1420 0.1008 0.0306 0.4533 -0.0371 1.0000 . . *we want a residual-versus-fit plot to ensure we have zero conditional mean* . . rvfplot, yline(0) . . *we want to run a test for heteroskedasticity* . . Hettest command Hettest not defined by Hettest.ado r(199); . . *since we have discovered heteroskedasticity in the data, we must make our standard errors and T-statist > ics heteroskedasticity robust* . . *we run the lasts regression series one more time, but with heteroskedasticity robust standard errors* . . *we store the regressions as reg16, reg17 etc* . . . reg Pris SentimentDagJustert BRA Byggeår D_renteoppgang D_rentenedgang Styringsrente Navledighet BNP Ind > exKvartal, vce(hc3) Linear regression Number of obs = 89,964 F(9, 89954) = 2235.63 Prob > F = 0.0000 R-squared = 0.6637 Root MSE = 1.7e+06 ------------------------------------------------------------------------------------- | Robust HC3 Pris | Coef. Std. Err. t P>|t| [95% Conf. Interval] --------------------+---------------------------------------------------------------- SentimentDagJustert | 19562.23 5601.744 3.49 0.000 8582.869 30541.6 BRA | 48273.02 360.2125 134.01 0.000 47567 48979.03 Byggeår | -3082.716 276.2817 -11.16 0.000 -3624.225 -2541.206 D_renteoppgang | -86296.94 26236.12 -3.29 0.001 -137719.5 -34874.39 D_rentenedgang | -191647.9 28839.29 -6.65 0.000 -248172.6 -135123.2 Styringsrente | -105650.5 17804.75 -5.93 0.000 -140547.6 -70753.33 Navledighet | -.0936073 1.130271 -0.08 0.934 -2.308928 2.121714 BNP | 18745.65 5976.722 3.14 0.002 7031.336 30459.97 IndexKvartal | 50492.81 1209.759 41.74 0.000 48121.7 52863.93 _cons | 6805962 535632.9 12.71 0.000 5756127 7855798 ------------------------------------------------------------------------------------- . . estimates store reg16 . . reg Pris SentimentL1Justert BRA Byggeår D_renteoppgang D_rentenedgang Styringsrente Navledighet BNP Inde > xKvartal, vce(hc3) Linear regression Number of obs = 88,418 F(9, 88408) = 2221.99 Prob > F = 0.0000 R-squared = 0.6659 Root MSE = 1.7e+06 ------------------------------------------------------------------------------------ | Robust HC3 Pris | Coef. Std. Err. t P>|t| [95% Conf. Interval] -------------------+---------------------------------------------------------------- SentimentL1Justert | 28218.67 5981.611 4.72 0.000 16494.77 39942.57 BRA | 48260.14 361.5681 133.47 0.000 47551.47 48968.81 Byggeår | -3145.21 276.8214 -11.36 0.000 -3687.778 -2602.643 D_renteoppgang | -87912.36 25203.3 -3.49 0.000 -137310.6 -38514.13 D_rentenedgang | -195981.6 28567.54 -6.86 0.000 -251973.8 -139989.5 Styringsrente | -107056.9 17984.81 -5.95 0.000 -142307 -71806.87 Navledighet | -.2250693 1.138627 -0.20 0.843 -2.456769 2.00663 BNP | 19050.32 5977.366 3.19 0.001 7334.734 30765.9 IndexKvartal | 49966.85 1231.212 40.58 0.000 47553.69 52380.02 _cons | 6930003 536443.1 12.92 0.000 5878580 7981427 ------------------------------------------------------------------------------------ . . estimates store reg17 . . reg Pris SentimentL7Justert BRA Byggeår D_renteoppgang D_rentenedgang Styringsrente Navledighet BNP Inde > xKvartal, vce(hc3) Linear regression Number of obs = 93,260 F(9, 93250) = 2308.87 Prob > F = 0.0000 R-squared = 0.6626 Root MSE = 1.7e+06 ------------------------------------------------------------------------------------ | Robust HC3 Pris | Coef. Std. Err. t P>|t| [95% Conf. Interval] -------------------+---------------------------------------------------------------- SentimentL7Justert | 71243.68 10187.51 6.99 0.000 51276.27 91211.09 BRA | 48367.59 354.6271 136.39 0.000 47672.52 49062.66 Byggeår | -3119.731 271.5503 -11.49 0.000 -3651.966 -2587.495 D_renteoppgang | -83469.94 25109.28 -3.32 0.001 -132683.9 -34256.03 D_rentenedgang | -173624.3 28613.97 -6.07 0.000 -229707.4 -117541.2 Styringsrente | -116866.5 17822.34 -6.56 0.000 -151798.1 -81934.88 Navledighet | -2.110343 1.175547 -1.80 0.073 -4.414403 .1937166 BNP | 12517.94 5952.188 2.10 0.035 851.7139 24184.17 IndexKvartal | 48308.49 1238.265 39.01 0.000 45881.5 50735.48 _cons | 6872652 526389.9 13.06 0.000 5840933 7904370 ------------------------------------------------------------------------------------ . . estimates store reg18 . . reg Pris SentimentL30Justert BRA Byggeår D_renteoppgang D_rentenedgang Styringsrente Navledighet BNP Ind > exKvartal, vce(hc3) Linear regression Number of obs = 91,898 F(9, 91888) = 2299.01 Prob > F = 0.0000 R-squared = 0.6627 Root MSE = 1.7e+06 ------------------------------------------------------------------------------------- | Robust HC3 Pris | Coef. Std. Err. t P>|t| [95% Conf. Interval] --------------------+---------------------------------------------------------------- SentimentL30Justert | 81665.78 12628.28 6.47 0.000 56914.47 106417.1 BRA | 48493.29 353.5729 137.15 0.000 47800.29 49186.29 Byggeår | -3131.93 275.0708 -11.39 0.000 -3671.066 -2592.794 D_renteoppgang | -88733 25030.17 -3.55 0.000 -137791.9 -39674.14 D_rentenedgang | -180061.7 28857.3 -6.24 0.000 -236621.7 -123501.6 Styringsrente | -100960.4 17956.06 -5.62 0.000 -136154.1 -65766.71 Navledighet | -1.447092 1.229772 -1.18 0.239 -3.857433 .9632491 BNP | 14011.32 6020.649 2.33 0.020 2210.91 25811.73 IndexKvartal | 45937.86 1320.448 34.79 0.000 43349.8 48525.93 _cons | 6888715 533357.3 12.92 0.000 5843340 7934090 ------------------------------------------------------------------------------------- . . estimates store reg19 . . reg Pris SentimentL90Justert BRA Byggeår D_renteoppgang D_rentenedgang Styringsrente Navledighet BNP Ind > exKvartal, vce(hc3) Linear regression Number of obs = 88,523 F(9, 88513) = 2180.86 Prob > F = 0.0000 R-squared = 0.6639 Root MSE = 1.7e+06 ------------------------------------------------------------------------------------- | Robust HC3 Pris | Coef. Std. Err. t P>|t| [95% Conf. Interval] --------------------+---------------------------------------------------------------- SentimentL90Justert | 97811.95 14571.68 6.71 0.000 69251.59 126372.3 BRA | 48852.9 363.3999 134.43 0.000 48140.64 49565.16 Byggeår | -3187.252 280.9951 -11.34 0.000 -3738 -2636.505 D_renteoppgang | -71989.21 25316.17 -2.84 0.004 -121608.7 -22369.75 D_rentenedgang | -110465.6 39249.02 -2.81 0.005 -187393.3 -33537.84 Styringsrente | -96897.53 18135.01 -5.34 0.000 -132442 -61353.09 Navledighet | -1.986341 1.368251 -1.45 0.147 -4.6681 .6954177 BNP | 11351.13 6224.791 1.82 0.068 -849.4065 23551.66 IndexKvartal | 41880.15 1404.907 29.81 0.000 39126.54 44633.75 _cons | 7009833 544946.7 12.86 0.000 5941742 8077923 ------------------------------------------------------------------------------------- . . estimates store reg20 . . *we create a table with all the regressions side by side* . . esttab reg16 reg17 reg18 reg19 reg20 -------------------------------------------------------------------------------------------- (1) (2) (3) (4) (5) Pris Pris Pris Pris Pris -------------------------------------------------------------------------------------------- SentimentD~t 19562.2*** (3.49) BRA 48273.0*** 48260.1*** 48367.6*** 48493.3*** 48852.9*** (134.01) (133.47) (136.39) (137.15) (134.43) Byggeår -3082.7*** -3145.2*** -3119.7*** -3131.9*** -3187.3*** (-11.16) (-11.36) (-11.49) (-11.39) (-11.34) D_renteopp~g -86296.9** -87912.4*** -83469.9*** -88733.0*** -71989.2** (-3.29) (-3.49) (-3.32) (-3.55) (-2.84) D_rentened~g -191647.9*** -195981.6*** -173624.3*** -180061.7*** -110465.6** (-6.65) (-6.86) (-6.07) (-6.24) (-2.81) Styringsre~e -105650.5*** -107056.9*** -116866.5*** -100960.4*** -96897.5*** (-5.93) (-5.95) (-6.56) (-5.62) (-5.34) Navledighet -0.0936 -0.225 -2.110 -1.447 -1.986 (-0.08) (-0.20) (-1.80) (-1.18) (-1.45) BNP 18745.7** 19050.3** 12517.9* 14011.3* 11351.1 (3.14) (3.19) (2.10) (2.33) (1.82) IndexKvartal 50492.8*** 49966.9*** 48308.5*** 45937.9*** 41880.1*** (41.74) (40.58) (39.01) (34.79) (29.81) Sen~1Justert 28218.7*** (4.72) Sen~7Justert 71243.7*** (6.99) Se~30Justert 81665.8*** (6.47) Se~90Justert 97811.9*** (6.71) _cons 6805962.3*** 6930003.4*** 6872651.8*** 6888715.3*** 7009832.9*** (12.71) (12.92) (13.06) (12.92) (12.86) -------------------------------------------------------------------------------------------- N 89964 88418 93260 91898 88523 -------------------------------------------------------------------------------------------- t statistics in parentheses * p<0.05, ** p<0.01, *** p<0.001 . . *we want to regress the sentiment versions on prisdifference too* . . *we run the regressions with heteroskedasticity robust standard errors* . . *we store the results as reg21, reg22 etc* . . reg Prisdiff SentimentDagJustert BRA Byggeår D_renteoppgang D_rentenedgang Styringsrente Navledighet BNP > IndexKvartal, vce(hc3) Linear regression Number of obs = 89,964 F(9, 89954) = 374.42 Prob > F = 0.0000 R-squared = 0.0335 Root MSE = 4.8e+05 ------------------------------------------------------------------------------------- | Robust HC3 Prisdiff | Coef. Std. Err. t P>|t| [95% Conf. Interval] --------------------+---------------------------------------------------------------- SentimentDagJustert | 28092.64 1603.044 17.52 0.000 24950.69 31234.59 BRA | .6070175 139.6697 0.00 0.997 -273.1442 274.3582 Byggeår | -285.8367 54.95399 -5.20 0.000 -393.546 -178.1274 D_renteoppgang | -16643.06 6287.809 -2.65 0.008 -28967.1 -4319.015 D_rentenedgang | -103211.6 8008.43 -12.89 0.000 -118908.1 -87515.17 Styringsrente | -22526.31 4412.669 -5.10 0.000 -31175.1 -13877.52 Navledighet | 4.475025 .2826113 15.83 0.000 3.92111 5.02894 BNP | 15689.45 1758.28 8.92 0.000 12243.24 19135.66 IndexKvartal | -17149.23 369.6309 -46.40 0.000 -17873.7 -16424.76 _cons | 809816.5 103110.4 7.85 0.000 607721.1 1011912 ------------------------------------------------------------------------------------- . . estimates store reg21 . . reg Prisdiff SentimentL1Justert BRA Byggeår D_renteoppgang D_rentenedgang Styringsrente Navledighet BNP > IndexKvartal, vce(hc3) Linear regression Number of obs = 88,418 F(9, 88408) = 364.50 Prob > F = 0.0000 R-squared = 0.0322 Root MSE = 4.8e+05 ------------------------------------------------------------------------------------ | Robust HC3 Prisdiff | Coef. Std. Err. t P>|t| [95% Conf. Interval] -------------------+---------------------------------------------------------------- SentimentL1Justert | 24851.62 1738.012 14.30 0.000 21445.14 28258.11 BRA | -22.56029 141.4728 -0.16 0.873 -299.8458 254.7252 Byggeår | -291.5518 56.09508 -5.20 0.000 -401.4977 -181.606 D_renteoppgang | -16861.29 6398.249 -2.64 0.008 -29401.8 -4320.779 D_rentenedgang | -101160.8 7886.908 -12.83 0.000 -116619 -85702.5 Styringsrente | -24757.31 4436.501 -5.58 0.000 -33452.81 -16061.81 Navledighet | 4.505802 .2835216 15.89 0.000 3.950102 5.061502 BNP | 15464.16 1758.199 8.80 0.000 12018.11 18910.22 IndexKvartal | -16808.42 381.6033 -44.05 0.000 -17556.36 -16060.49 _cons | 824960.4 105406.4 7.83 0.000 618364.7 1031556 ------------------------------------------------------------------------------------ . . estimates store reg22 . . reg Prisdiff SentimentL7Justert BRA Byggeår D_renteoppgang D_rentenedgang Styringsrente Navledighet BNP > IndexKvartal, vce(hc3) Linear regression Number of obs = 93,260 F(9, 93250) = 416.27 Prob > F = 0.0000 R-squared = 0.0350 Root MSE = 4.8e+05 ------------------------------------------------------------------------------------ | Robust HC3 Prisdiff | Coef. Std. Err. t P>|t| [95% Conf. Interval] -------------------+---------------------------------------------------------------- SentimentL7Justert | 65158.48 2576.064 25.29 0.000 60109.42 70207.54 BRA | -14.60194 137.0775 -0.11 0.915 -283.2723 254.0684 Byggeår | -285.965 53.67156 -5.33 0.000 -391.1607 -180.7693 D_renteoppgang | -17180.11 5950.385 -2.89 0.004 -28842.81 -5517.423 D_rentenedgang | -87636.87 7865.736 -11.14 0.000 -103053.6 -72220.11 Styringsrente | -29827.53 4405.299 -6.77 0.000 -38461.86 -21193.19 Navledighet | 2.885746 .2874544 10.04 0.000 2.322338 3.449153 BNP | 10566.92 1718.663 6.15 0.000 7198.358 13935.48 IndexKvartal | -18526.8 368.953 -50.21 0.000 -19249.94 -17803.65 _cons | 813188.1 100622.8 8.08 0.000 615968.4 1010408 ------------------------------------------------------------------------------------ . . estimates store reg23 . . reg Prisdiff SentimentL30Justert BRA Byggeår D_renteoppgang D_rentenedgang Styringsrente Navledighet BNP > IndexKvartal, vce(hc3) Linear regression Number of obs = 91,898 F(9, 91888) = 404.79 Prob > F = 0.0000 R-squared = 0.0352 Root MSE = 4.8e+05 ------------------------------------------------------------------------------------- | Robust HC3 Prisdiff | Coef. Std. Err. t P>|t| [95% Conf. Interval] --------------------+---------------------------------------------------------------- SentimentL30Justert | 92342.08 3338.485 27.66 0.000 85798.68 98885.47 BRA | -24.22997 138.5598 -0.17 0.861 -295.8057 247.3457 Byggeår | -282.6398 54.11529 -5.22 0.000 -388.7053 -176.5744 D_renteoppgang | -17728.11 5918.594 -3.00 0.003 -29328.49 -6127.728 D_rentenedgang | -73121.92 7786.675 -9.39 0.000 -88383.72 -57860.12 Styringsrente | -31703.09 4465.351 -7.10 0.000 -40455.13 -22951.05 Navledighet | 1.535183 .297461 5.16 0.000 .9521623 2.118203 BNP | 6500.681 1692.066 3.84 0.000 3184.248 9817.114 IndexKvartal | -19312.18 384.1998 -50.27 0.000 -20065.21 -18559.16 _cons | 805990.8 101414.8 7.95 0.000 607218.9 1004763 ------------------------------------------------------------------------------------- . . estimates store reg24 . . reg Prisdiff SentimentL90Justert BRA Byggeår D_renteoppgang D_rentenedgang Styringsrente Navledighet BNP > IndexKvartal, vce(hc3) Linear regression Number of obs = 88,523 F(9, 88513) = 325.22 Prob > F = 0.0000 R-squared = 0.0307 Root MSE = 4.8e+05 ------------------------------------------------------------------------------------- | Robust HC3 Prisdiff | Coef. Std. Err. t P>|t| [95% Conf. Interval] --------------------+---------------------------------------------------------------- SentimentL90Justert | 96469.85 3776.926 25.54 0.000 89067.11 103872.6 BRA | -51.79408 142.9057 -0.36 0.717 -331.8879 228.2997 Byggeår | -289.8537 55.55286 -5.22 0.000 -398.7368 -180.9706 D_renteoppgang | -2279.39 5996.471 -0.38 0.704 -14032.42 9473.637 D_rentenedgang | -135725.1 9768.122 -13.89 0.000 -154870.5 -116579.7 Styringsrente | -29822.34 4463.128 -6.68 0.000 -38570.02 -21074.65 Navledighet | 2.235064 .313013 7.14 0.000 1.621561 2.848566 BNP | 7132.77 1711.443 4.17 0.000 3778.357 10487.18 IndexKvartal | -18234.32 426.607 -42.74 0.000 -19070.46 -17398.17 _cons | 795156 103976.2 7.65 0.000 591363.6 998948.3 ------------------------------------------------------------------------------------- . . estimates store reg25 . . *we display the results in one table next to each other* . . esttab reg21 reg22 reg23 reg24 reg25 -------------------------------------------------------------------------------------------- (1) (2) (3) (4) (5) Prisdiff Prisdiff Prisdiff Prisdiff Prisdiff -------------------------------------------------------------------------------------------- SentimentD~t 28092.6*** (17.52) BRA 0.607 -22.56 -14.60 -24.23 -51.79 (0.00) (-0.16) (-0.11) (-0.17) (-0.36) Byggeår -285.8*** -291.6*** -286.0*** -282.6*** -289.9*** (-5.20) (-5.20) (-5.33) (-5.22) (-5.22) D_renteopp~g -16643.1** -16861.3** -17180.1** -17728.1** -2279.4 (-2.65) (-2.64) (-2.89) (-3.00) (-0.38) D_rentened~g -103211.6*** -101160.8*** -87636.9*** -73121.9*** -135725.1*** (-12.89) (-12.83) (-11.14) (-9.39) (-13.89) Styringsre~e -22526.3*** -24757.3*** -29827.5*** -31703.1*** -29822.3*** (-5.10) (-5.58) (-6.77) (-7.10) (-6.68) Navledighet 4.475*** 4.506*** 2.886*** 1.535*** 2.235*** (15.83) (15.89) (10.04) (5.16) (7.14) BNP 15689.5*** 15464.2*** 10566.9*** 6500.7*** 7132.8*** (8.92) (8.80) (6.15) (3.84) (4.17) IndexKvartal -17149.2*** -16808.4*** -18526.8*** -19312.2*** -18234.3*** (-46.40) (-44.05) (-50.21) (-50.27) (-42.74) Sen~1Justert 24851.6*** (14.30) Sen~7Justert 65158.5*** (25.29) Se~30Justert 92342.1*** (27.66) Se~90Justert 96469.8*** (25.54) _cons 809816.5*** 824960.4*** 813188.1*** 805990.8*** 795156.0*** (7.85) (7.83) (8.08) (7.95) (7.65) -------------------------------------------------------------------------------------------- N 89964 88418 93260 91898 88523 -------------------------------------------------------------------------------------------- t statistics in parentheses * p<0.05, ** p<0.01, *** p<0.001 . . log close name: log: /Users/erikskutle/Documents/thesis.log log type: text closed on: 19 Dec 2021, 18:31:04 ----------------------------------------------------------------------------------------------------------