List of RATS Features
Below is a listing of many of the key features supported by RATS. Please note that RATS is designed to be a very powerful and flexible program, so there is no way we can list all of its capabilities here. If, after looking over this list, you are not sure that RATS can do what you need, just ask us. You can call us at 800-822-8038 or e-mail us at estima@estima.com and we'll do our best to answer your question.
Statistical Methods
Estimation Techniques
- Multiple regressions including stepwise
- Regression with autoregressive errors
- Heteroscedasticity/serial-correlation correction, including Newey-West
- Non-linear least squares
- Two-stage least squares for linear, non-linear, & autocorrelated models
- Seemingly unrelated regressions and three-stage least squares
- Non-linear systems estimation
- Generalized Method of Moments
- Maximum likelihood estimation
- Constrained optimization
- Extensive built-in hypothesis testing, with procedures for a huge variety of unit-root, stability, and other tests
- Limited and discrete dependent variable models: logit, probit, censored/truncated data (Tobit), count models
- Panel data support, including fixed and random effects estimators
- Non-parametric regressions
- Kernel density estimation
- Robust estimation
- Recursive least squares
- State-space models, including Kalman filtering and smoothing, simulations, and optimal control models
- Neural network models
- Linear and quadratic programming
Time Series Procedures
- Easy to specify lags and leads for time-series model estimation and analysis
- arima and armax models including multiplicative seasonal models; support for arbitrary lag structures
- Transfer function/intervention models
- Error correction models
- Kalman filter
- Spectral analysis
Forecasting
- Time series models
- Regression models
- Exponential smoothing
- Static or dynamic forecasts
- Simultaneous equation models (unlimited number of equations)
- Simulations with random or user-supplied shocks
- Forecast performance statistics, including Theil U statistics
Vector Autoregressions (VARs)
- Unmatched support for var models
- Error Correction models
- Structural vars. Choice of factorizations, including estimation of a factor matrix from a covariance matrix model
- Impulse responses, with Monte Carlo and Importance Sampling techniques for standard error bands.
- Forecasting
- Variance decomposition
- Historical decomposition
- Extensive hypothesis testing tools
- cats 2.0 add-on provides industry-leading cointegration analysis
ARCH and GARCH Models
- Univariate and multivariate, including bekk, diagonal, cc, dcc, and vech multivariate models
- Support for garch-in-mean models
- Additional exogenous variables in mean and/or variance equations
- Normal, t and ged distributions
- Asymmetry
- Robust standard errors
Working With Data
Data Entry
- Menu-driven Data Wizards for reading in data
- Reads and writes Excel files, text files, Haver databases, and other formats
- Pro version supports sql/odbc
- On-screen data viewer and editor, with point-and-click graphing and statistics tools
- Can handle virtually any data frequency, including daily, weekly, intra-day, and panel data
- Can automatically convert data to different frequencies
- rats data file format is fast and easy, supports all frequencies, and allows you to store series of different frequencies on the same file
Data Transformations
- Flexible transformations with algebraic formulas
- Easy to create trend series, seasonal, and time period dummies
- Extensive filtering operations, including Hodrick-Prescott, Henderson, Spencer, and custom filters
- Supports regular, seasonal, and fractional differencing
Graphics
- High-quality time series graphics
- High-resolution X-Y scatter plots
- Dual-scale graphs
- Contour graphs
- Copy-and-paste graphs into other applications
- Export graphs to many formats, including PostScript and Windows Metafile
- User can customize attributes such as line thickness, colors and grayscale
levels, and fill patterns
Interface
Interactive Mode Environment
- Text-editor based
- Point-and-click “wizards” for many tasks, greatly enhancing ease-of-use
- Saved programs can be re-run with just a few mouse clicks
- Designed so that you can reproduce results, output, and graphs easily and accurately—a critical but often overlooked requirement for producing
reliable, publication-quality results
- True multiple window support. Simultaneously view your input commands and output, spreadsheet-style “report” windows, graphs, and more
Programmability
- Extensive looping capabilities and support for applying operations to lists of variables make it possible to automate many repetitive tasks
- You can write procedures, which can perform complex tasks with a single instruction, and write your own callable functions.
- A library of procedures written by rats users from around the world is available free of charge on our web site
- A variety of interface-related instructions allow you to create your own drop-down menus, custom dialog boxes, and more
RATS Professional
The Professional versions of RATS add the following features not found in the Standard version:
- Support for reading databases via ODBC/SQL
- Census Bureau X11 seasonal adjustment routine
- Support for FAME data files (for Windows and unix/linux)
- Support for CRSP data files
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