Can these equations be reliably estimated using ols?, Ask an Expert

Economics

Consider the following simultaneous equations model of a market for com. corn = alpha1 price +beta1 income + u1 corn = a2price + beta2 rainfall +gamma2rain fall2 + u2 Which is the supply equation and which is the demand? Explain. Can these equations be reliably estimated using OLS? Explain. Solve for the reduced-form equations of this model. Can these equations be reliably estimated using OLS? Assuming that appropriate data is available, can either of equations (1) or above be identified? Explain? Explain how you would go about obtaining a reliable estimate of the parameter a1 from equation (1)

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M9444480

Have any Question?Write your Review or question?

Related Questions in Business Economics

You spoke with seven people you know and found that they

You spoke with seven people you know and found that they went out 2, 0, 1, 5, 0, 2, and 3 times last week. You then would choose to calculate a 95% (or another level) confidence interval for the population mean.

How technology government regulations international

How technology, government regulations, international factors, expectations about the future, and the macroeconomy play a role in managerial decision-making? Carefully explain each by giving example.

Consider a machine with exponential reliability model

Consider a machine with exponential reliability model. Assume that the breakdown rate is 1 and the repair rate is 2. Calculate the probability that the machine is up for more than 10 units of time. Calculate the probabil ...

Can you please assist with this the stock price

Can you please assist with this. The stock price distribution is skewed to the right. The mean is $5 and the standard deviation is $6. At least what proportion of prices is located between 1.5 standard deviations. Hint: ...

What is the central limit theorem why does it make the use

What is the Central Limit Theorem? Why does it make the use of the common inferential tools possible even if the raw data is not distributed normally?

One of the authors received a credit card bill for 2988 but

One of the authors received a credit card bill for 2,988, but it included a charge of 1,834 that was not valid. Find the values of the absolute and relative errors the absolute value is 1,834 what is the relative errors?

Adult male heights x have n70 33a what percent of adult

Adult male heights X have N(70", 3.3") a.) What percent of adult males are shorter than 63"? b.) What percent of males are taller than 70"? c.) What's the 80th percentile of male heights? Show work

Explain a situation using the supply and demand for skilled

Explain a situation using the supply and demand for skilled labor in which the increased number of college graduates leads to depressed wages. Given the rising cost of going to college, explain why a college education wi ...

Last years budget for the legislative branch of a certain

Last years budget for the legislative branch of a certain government was 4938 million, and this year was 5320 million. Consider last year budget of 4938 million to be the reference value. 1. What will the absolute change ...

What does it mean when dollars are used as a unit of

What does it mean when Dollars are used as a unit of measurement along the vertical axis? (Indifference curve only) Can you also show me how the graph will look like?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert