What is the importance of assuming the Markov first-order, or AR(1), auto-correlation scheme?

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Essentials of Econometrics

ISBN: 978-0073375847

4th edition

Authors: Damodar Gujarati, Dawn Porter

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Question Posted: Apr 12, 2016 07:33 AM

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What is the importance of assuming the Markov first-order, or AR(1), auto-correlation scheme?

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To conclude I can say that although in general ...View the full answer

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