[R] concerning econometrics usage of "R"

[SELIM YILDIRIM]

Hi, 

I am currently looking for a program or programmng language easy to
learn, easier to operate on.I heva heard about "R", However I
understand that "R" is designed especially for statisticians. As an
economist, working on applied econometrics, I am not sure if it can
meet my needs.

Will I be able to reach precise time series or panal data regression
results with "R" ? Can "R" regress nonlinear models such as TAR, STAR
and Markov Switcing models? Can I use it to do cointegration, unit
root, VAR analysis on both panel and time series data? Can I run GMM
regressions on "R" ? Is it suitable for Monte Carlos? 

In short, is R suitable for applied econometrics?