MULTICOLLINEARITY IN ECONOMETRIC MODELS

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There are several textbooks are available in literature in Econometrics, but we thought it is really beneficial to students and researchers to have a special textbook on multicollinearity problem in the general linear model. The topic of multicollinearity has gained high importance in recent times as the data getting generated is increased enormously. Because of this data exploration, many variables are representing the same amount of information which leads to the problem of multicollinearity. In the current textbook, the authors tried to explore the topic of multicollinearity along with the basic definitions and key tests available to detect multicollinearity. For all practical application purposes, we included a chapter on empirical analysis that will show how the model goes improved through dealing with the problem of multicollinearity. This book acts as a textbook, reference manual for all students who are studying econometrics at their graduate and post-graduate levels and also for research scholars. The design of contents is structured in such a way that users find it easy to understand and implement the same in their research works.

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Dr.M.Chandrasekhar Reddy, currently working as Associate Professor in Statistics at Arba Minch University in Ethiopia, before which he spends more than 15 years as an academician involving research and teaching in various Engineering Colleges and Management Business Schools across India. Dr.Chandra, whose native town is Anantapuram from Andhra Pradesh, India, completed his M.Sc. (Applied Statistics) at Sri Venkateswara University in Tirupati. Later he obtained Ph.D. from the same university. Most of his research work involves topics like core econometrics and Operations Research. Dr.Chandra is a life member of the Indian Society for Probability and Statistics (ISPS). Dr.Chandra career extensively involved teaching very important courses in statistics like Econometrics, Sampling Techniques, Economic Statistics, Modern Industrial Statistics, Operations Research & Statistical Quality Control, Advanced Biostatistics, Biometry & Advanced Biometry, Big Data Analytics. Dr.Chandra also supervised many undergraduate and post-graduate research papers in the Statistics and Management disciplines.

Dr. P. Balasubramanyam is currently working as Associate professor at Goa Institute of Management in Big Data Analytics for the past one year and before which he spends more than 20 years in IT and Manufacturing domains and delivered many projects in the Artificial Intelligence area. Dr. Bala, who is a gold medal winner from Sri Venkateswara University at post-graduation level and completed M.Phil. and Ph.D. from the same university. In his career path of IT and manufacturing, he played the roles of data scientist and architect and released the vital components of analytical software that created a lot of cost savings and performance improvement. He led more than 100+ projects in manufacturing especially in operations, supply chain and HR domains, and brought some successful results. Some of the few failures in those projects made him deep dive into those projects and become a learning lesson for the group. Currently, with the great idea of sharing his vast knowledge and experience with the student’s community, he joined as Associate Professor of Big Data Analytics in Goa Institute of Management and distributing the real-time experiences with the young community of data scientists.

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