economics analysis

my topic is how race and age influnence income, you should write a paper follow all of the instruction. i upload all the files you need.3. Initial Empirical Analysis:  This component should include revised ver- sions of your Introduction, Literature Review, and Model sections (including Table A1 and Table 1). You should now include a complete Data section with an updated version of Table 2, as well as an Empirical Results section with Table 3. The draft should be less than 6 pages, excluding tables and references. • Data: In this section, describe the data set (e.g., cross-section, time series, or panel data). Ad- dress variable names, units of measurement, and reliability of the data. Is it reasonable to assume the data are unbiased? Discuss whether the data correspond to economic variables proposed by the theory. Include an updated version of Table 2 with basic summary statistics, and any other subsequent tables required to describe the data (e.g., one might break dummy variables out by subgroup).2 Discuss interesting points about the summary statistics for key dependent and independent variables. Consider any other problems that might affect your analysis such as multicollinearity, missing observations, or concerns over data quality.Empirical Results: Create Table 3 that reports regression results for at least one model. Include additional models in subsequent columns of the table as needed. Include a brief write-up that (a) interprets the regression results as they relate to the predicted hypotheses, (b) discusses the most appropriate model, and (c) addresses any concerns with the regression model raised by the results. Keep the writing brief because the analysis may be revised substantially. SubmitanelectroniccopyoftheSTATAcodeusedtogeneratethesummarystatisticsandresults. 4. Second Empirical Analysis include all of the same components as in the Initial Empirical Analysis, with all necessary revisions. In addition, create the following: Table 4 that reports an analysis of the error term for your preferred model (normality, autocor- relation, heteroskedasticity). Refer to the research paper packet and class notes for examples. Update the writing from the initial empirical analysis to accommodate all revisions and to ad- dress any concerns raised by the error analysis. A Robustness section, which addresses any necessary modifications to the empirical model used to rule out alternative stories that would explain your results. To the extent possible, the section should also attempt to address any serious concerns regarding quality of data, mismatch between data and theoretical variables, or outliers. Report robustness checks in Table 5. Again, submit STATA code on-line.