151 Interactions in R part 2

This video delves into econometrics by exploring log models with interaction terms in R, building upon previous discussions of linear models. We demonstrate how to log variables and interpret percentage effects and elasticities, using the wage2 dataset. The process for building these models is consistent with linear models, but the interpretation shifts significantly due to the log-transformed dependent variable. We examine both dummy continuous and continuous continuous interaction cases, visualizing the results and highlighting how marital status influences the return to education. Visit AxiomTutoring.com and subscribe to @AxiomTutoringCourses.