New Features in Microfit 5.0

• Can run regressions using up to 102 regressors and allows 5,000,000 observation data points
• Much enhanced graphic module allows numerous graph types and an unrestricted number of plots per screen
• Time series dimension of observations can be adjusted dynamically
• Allows Excel files to be imported and exported
• Additional root unit tests such as Phillips-Perron, ADF-GLS, ADF-WS, and ADF-MAX
• Analysis of cointegrating models, with and without weakly exogenous variables (VARX and VECMX models), essential for modelling of small open economies
• Forecasting, impulse response analysis, persistence profiles and error variance decomposition for VARX models
• Principal components and canonical correlation analysis
• Nonparametric density estimation (Gaussian and Epanechnikov kernels with Silverman rule of thumb and least squares cross-validation band widths)
• Bootstrapped critical values for tests of over-identifying restrictions and cointegrated models
• Multivariate GARCH models, allowing estimation with Gaussian and multivariate t-distributed shocks
• Small sample simulation of the critical values of unit root and cointegration tests
• Bootstrapped error bounds for impulse responses, persistence profiles, and error variance decompositions for VAR, VARX, and cointegrated VAR and VARX options
• Most files created using Microfit 4.0 can be used in Microfit 5.0
• Enhanced help files now included within the software package