Guesstimating is Superior to Omitting: A Better Way of Addressing Sparse Data in Economic Freedom of the World

23 Pages Posted: 5 Sep 2014

See all articles by Ryan Murphy

Ryan Murphy

Southern Methodist University (SMU)

Date Written: September 3, 2014

Abstract

Economic Freedom of the World, an economic index published by the Fraser Institute, has seen wide use inside and outside academia. Certain data issues arise, however, when complete data are unavailable. This paper proposes to mitigate or eliminate many of these issues by filling in the missing values using estimates derived from four regression models.

Keywords: Economic Freedom of the World, Economic Indexes

JEL Classification: O11, P51

Suggested Citation

Murphy, Ryan, Guesstimating is Superior to Omitting: A Better Way of Addressing Sparse Data in Economic Freedom of the World (September 3, 2014). Available at SSRN: https://ssrn.com/abstract=2491378 or http://dx.doi.org/10.2139/ssrn.2491378

Ryan Murphy (Contact Author)

Southern Methodist University (SMU) ( email )

6212 Bishop Blvd.
Dallas, TX 75275
United States

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