Hope studying is going well for everyone…
I wanted to clarify some things from quant. I will put my conclusions below, and if anything is wrong id love for some of you quant gurus to chime in (because i absolutely suck at quant)
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Heteroskedasticity- coefficients will still be consistent, but biased. standard errors will be biased and inconsistent
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Serial correlation- coefficients will still be consistent, but biased. standard errors will be biased and inconsistent
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multicollinearity- coefficients will be consistent, but biased. standard errors, again, will be biased and inconsistent
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omitted variable- coefficients will be inconsistent and biased. This is the only one in which coefficient estimates are actually inconsistent.
I have no idea if whatever i just typed makes sense, so im hoping you guys can help me out by explaining what all this means a little more. Im running into way too many mock questions about this to not have a deeper understanding