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A couple of heroic anecdotes
Three Barbarians are standing near a tavern, talking:
Krag Hack (in a whisper): Esteemed colleague, despite the fact that both models you presented include lagged variable values, it should be noted that they differ significantly in terms of statistical parameter estimation! In the first equation, the regressors are uncorrelated with the errors, so this model can be estimated using the least squares method. In the second model, yt-1 includes the error ut-1, therefore, the error vector u and the regressor matrix X are correlated. In this case, the OLS estimate will be biased and inconsistent!
Kildor (in a whisper): Exactly, colleague! The first model is an example of a distributed lag model. The second model is an example of an autoregressive distributed lag model. By taking these models, I…
Yog (in a whisper): Colleagues, attention - mages are approaching us!
Kildor (in a loud voice): …well, that's what I'm saying, I took one photo model by the breasts, and the other by the *ss…
A Haven hero is patrolling his lands, when he suddenly sees a trail left on the ground by some unknown, also Haven hero:
- What is this mess, who is wandering around my lands?! Come on, let's find the brazen fellow by following the trail!
They ride for a day - there is no one, the second day - still no one, and on the third day, the hero's squire asks:
- Your nobility, why have we been running in circles for three days?
A demon asks the Pit Lord:
- Dad, are there any humans?
- They're gone, son. Eat cheese!
***
It's not a good idea to look for the Black Dragon in a dark cave, especially if he's there...
***
A Crusader is charging at two Black Dragons. The dragons look at each other:
- Oops! Canned food...
-Alarm! Alarm!!! The Dark Elves have come out of the Dungeon!
-Stop playing Heroes, Vasya! These are miners coming off their shift.
Jel comes to a mage-psychiatrist:
-I think someone is following me...
-And when did this start?
-Since I started carrying the Blade of Armageddon in my inventory...
Three Barbarians are standing near a tavern, talking:
Krag Hack (in a whisper): Esteemed colleague, despite the fact that both models you presented include lagged variable values, it should be noted that they differ significantly in terms of statistical parameter estimation! In the first equation, the regressors are uncorrelated with the errors, so this model can be estimated using the least squares method. In the second model, yt-1 includes the error ut-1, therefore, the error vector u and the regressor matrix X are correlated. In this case, the OLS estimate will be biased and inconsistent!
Kildor (in a whisper): Exactly, colleague! The first model is an example of a distributed lag model. The second model is an example of an autoregressive distributed lag model. By taking these models, I…
Yog (in a whisper): Colleagues, attention - mages are approaching us!
Kildor (in a loud voice): …well, that's what I'm saying, I took one photo model by the breasts, and the other by the *ss…
A Haven hero is patrolling his lands, when he suddenly sees a trail left on the ground by some unknown, also Haven hero:
- What is this mess, who is wandering around my lands?! Come on, let's find the brazen fellow by following the trail!
They ride for a day - there is no one, the second day - still no one, and on the third day, the hero's squire asks:
- Your nobility, why have we been running in circles for three days?
A demon asks the Pit Lord:
- Dad, are there any humans?
- They're gone, son. Eat cheese!
***
It's not a good idea to look for the Black Dragon in a dark cave, especially if he's there...
***
A Crusader is charging at two Black Dragons. The dragons look at each other:
- Oops! Canned food...
-Alarm! Alarm!!! The Dark Elves have come out of the Dungeon!
-Stop playing Heroes, Vasya! These are miners coming off their shift.
Jel comes to a mage-psychiatrist:
-I think someone is following me...
-And when did this start?
-Since I started carrying the Blade of Armageddon in my inventory...