Developer: Oxford University Press
Latest Release: 5
Operating System: Windows
Microfit 5.0 is an interactive, menu-driven program with a host of facilities for estimating, hypothesis testing, forecasting, data processing, file management, and graphic display.
Microfit 5.0 is one of the most powerful menu-driven time-series econometric packages currently available. It is a major advance over Microfit 4.0 and offers a unique built-in interactive, searchable econometric text. It provides users with technical, functional and tutorial help throughout the package, and can be used at different levels of technical sophistication.
Microfit 5.0 is suitable for classroom teaching of undergraduate and postgraduate courses in applied econometrics. For experienced users of econometric programs, it offers a variety of univariate methods, multivariate techniques for cointegration, principal components, canonical correlations and multivariate volatility modelling, and provides a large number of diagnostic and non-nested tests not readily available on other packages. The interaction of excellent graphics and estimation capabilities in Microfit 5.0 allows important econometric research to be carried out in a matter of days rather than weeks.
New features in Microfit 5.0:
- Can run regressions using up to 102 regressors and allows 5,000,000 observation data points
- Much enhanced graphic module allows numerous graph types and an unrestricted number of plots per screen
- Time series dimension of observations can be adjusted dynamically
- Allows Excel files to be imported and exported
- Additional root unit tests such as Phillips-Perron, ADF-GLS, ADF-WS, and ADF-MAX
- Analysis of cointegrating models, with and without weakly exogenous variables (VARX and VECMX models), essential for modelling of small open economies
- Forecasting, impulse response analysis, persistence profiles and error variance decomposition for VARX models
- Principal components and canonical correlation analysis
- Nonparametric density estimation (Gaussian and Epanechnikov kernels with Silverman rule of thumb and least squares cross-validation band widths)
- Bootstrapped critical values for tests of over-identifying restrictions and cointegrated models
- Multivariate GARCH models, allowing estimation with Gaussian and multivariate t-distributed shocks
- Small sample simulation of the critical values of unit root and cointegration tests
- Bootstrapped error bounds for impulse responses, persistence profiles, and error variance decompositions for VAR, VARX, and cointegrated VAR and VARX options
- Most files created using Microfit 4.0 can be used in Microfit 5.0
- Enhanced help files now included within the software package
- Microsoft® Windows® 7, Vista, XP or 2000
- 1 GB RAM
- Minimum 45 MB free hard disk space
- Internet access for software activation
- Microsoft mouse or compatible (optional)
- A printer for producing hard copies of graphs and regression results (optional)
- Adobe® Reader® 6 or later required to access the help files
Dr. Bahram Pesaran
Dr. Bahram Pesaran is currently a Research Consultant at Wadhwani Asset Management.
He has also worked as a Research Analyst at Tudor Investment Corporation, The Bank of England, The National Institute of Economics and Social Research and The Confederation of British Industry.
Dr. Hashem Pesaran
Dr. Hashem Pesaran is Professor of Economics at the University of Cambridge, John Elliott Chair at the University of Southern California, and a Professorial Fellow of Trinity College, Cambridge.
Previously he has been the head of the Economic Research Department of the Central Bank of Iran, and Professor of Economics at University of California at Los Angeles.
Dr. Pesaran is the founding editor of the Journal of Applied Econometrics and has served as a Vice President at the Tudor Investment Corporation. He is a Fellow of the Econometric Society, and a Fellow of the British Academy.