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Problem:
a) Using a financial or economics theory, determine a simultaneous structural model and a recursive model, explaining each variable used in the models.
b) Using your above formulated simultaneous structural model, obtain the reduced form equations and deduce whether the equations are over/under or just-identified.
c) Based on your results from part (b), explain which methodology(ies) can be used to estimate the reduced form equations and why.
d) Explain in details which test can be used to test for the exogeneity of a variable. Answers must be supported by an example.
what is law of denam?
Suppose years of schooling, s , is the only variable that affects earnings. The equations for the weekly salaries of male and female workers are given by w m = 500 + 100 s and
various functions of money
a) Design a simple econometric project to identify the factors that affect the demand for a good or service of your preference. Estimate the significance of these factors using mu
A perfectly competitive firm hires its machines at a constant rental rate of r = 5 euros per unit and its workers at a constant wage rate of w = 4 euros per unit. It can also sell
concept of supply
Problem: a) In what circumstances would you apply switching models? b) Using dummy variables for seasonality show how you would test for January effects in financial data?
if there is multicollinearity so why we can not estimate the value of parameters?
Y1=Y21Y2+Bx+U1 Y2=Y21Y1+U2 First equation is demand and second is supply equation,can first equation be identifiable outline the method
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