# Summary statistics, empirical strategy and preliminary results

The aim of this 5-7 page paper is to present the data you have obtained, explain the econometric
methods you intend to use in testing your hypothesis and present the preliminary results if possible

Some advice regarding the data and empirics:
i. Include descriptive statistics of your variables: means, std. deviations, min/max, number
of observations Interpret the numbers- describe your data in the body of your paper.
Make sure units are clear to the reader. Talk about an average observation as well as
ii. Make sure that the units of observation are clear to the reader and the sample selection
is well explained.
iii. Provide as much evidence from the data as possible – even if it doesn’t support your
hypothesis.
iv. For clarity, put your tables at the end of the paper.
v. Discuss differences of means. I.e. if your theory is that FDI into countries with capital
export controls is lower, tell us the average FDI (scaled appropriately) into countries with
and without such controls. If your theory is that repeat customers tip better, tell us the
average tip for repeat customers versus first-time visitors.
vi. Explain why the simple differences-of-means, or simple OLS regressions, might be biased,
i.e. why another empirical approach is more suitable in your case. Describe your
empirical model. State the equation(s) clearly and list all the variables you are planning
to include. If you are planning on testing different models, describe it clearly. Motivate
your planned empirical approach using the theory as much as possible.
Some advice regarding the data and empirics:
i. Tables should be self-contained to the extent possible and make sure names of the variables and
units of measurement are clear to the reader.
ii. Present the basics first (differences of means, OLS, etc.). Then explain why the simple correlations
might be biased before you try anything fancier (fixed effects, 2SLS, FGLS etc.).
iii. Discuss your results in the context of the theory and other empirical papers on the same topic.

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