EMPIRICAL ANALYSIS REPORT TEMPLATE
As mentioned in class, the purpose of an empirical analysis report is to summarize empirical
evidence related to your research argument. Hence, an empirical analysis report should include
clear discussions of the data used, the empirical model, the hypothesized results, the actual
results, and the researcher’s interpretation of the results. The empirical analysis report should
persuade readers that the empirical approach adopted was sound and the data used was
appropriate for testing the stipulated hypothesis.
In the preparation of your empirical analysis report, it is important to read Chapter 12 of the
textbook, which articulates the guidelines on communicating the results of a research project,
very carefully, paying particular attention to the “Empirical Testing of the Analysis” part (pp.
Your empirical report, which should be 5-8 pages typed double-spaced, should be organized as
1. Testing Methodology
Describe the methodology used (e.g. the research used OLS applied to monthly
time series data for Country A covering the period from January 19xx to
Explain why the chosen methodology is appropriate for testing your research
2. Empirical model
Provide the equation of the empirical model with clear descriptions of the
variables in the equation (e.g.,… the empirical model adopted is:
Ci 1 1Yi 2Wt ut where C is the household expenditure (thousands of
dollars), Y is income (thousands of dollars), Y is wealth (thousands of dollars),
and u is the error term that captures the effect of omitted variables.
The empirical model should be linked to the theoretical model in terms of the
variables, functional form, mathematical manipulation, etc.
A brief description of the sources and methods of the data used to test the
hypothesis, including any data transformations. This part, which is a very brief reiteration of the information you provided in the data report, is aimed as
persuading the reader that the data are adequate for purposes of testing the
4. Hypothesized results
Before presenting the actual results it is important to explain the expected signs of
the coefficients (i.e., positive, negative, or uncertain).
5. Actual results
Present detailed results (including empirical test results) in Tabular form (if there
are too many results, some non-key results can be relegated to the appendix).
Figure 12.2, on Page 244 of the textbook, provides an example of how you could
present your results.
Regardless of how you present it, your results should include the sample size,
estimated coefficients, a measure of significance (e.g., t-ratio, p-value or standard
error), a goodness of fit measure (e.g., R-squared), F-statistic for significance of
the overall regression, as well as the results of any tests for econometric problems
such as autocorrelation, heteroscedasticity, etc.
Explain the nature of the reported standard errors (e.g. the usual OLS standard
errors, or heteroscedasticity-robust standard errors).
The Figures/Tables must be appropriately numbered, titled and referenced in the
6. Interpretation of the Results
Provide an appropriate interpretation of the results.
Your interpretation should include the following: are signs of the estimated
coefficients in conformity with the predictions of your hypothesis? Are the
estimated coefficients significant? How do your results compare to previous
results? What is your detailed interpretation (where detailed means going beyond
just good fit or poor fit) of the goodness-of fit measure such as R-squared? Were
there any statistical problems (e.g. heteroscedasticity, autocorrelation, etc.) that
needed to be corrected in order your reported results?
State and explain any anomalies in your results (e.g. where the estimated sign of
the coefficient differed from the corresponding theoretical sign).
Provide any general conclusions arising from your research.
Provide an overall summary of your findings, which involves restating your
argument and concluding as to whether or not your argument is valid e.g., were
your empirical results in conformity with your hypothesis; if your results were not
consistent what are the plausible explanations for this lack of consistency?
State any ways in which your study could be improved upon in future given
additional time and effort (e.g., better data, improved methodology, etc.)?
8. Results appendix (if necessary)
If there are too many results in Part 5, some non-key results can be relegated to
this appendix section.
Some cautionary remarks:
Lack of significance of the estimated coefficients reported in Part 5 does not mean that your
research is wrong and you will get a bad mark. What is more important is to appropriately
discuss the results that you have found.
Due date: Friday April 3, 2020
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