Continue with the data given in Table 17.5. Now consider the following simple model of money demand
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Continue with the data given in Table 17.5. Now consider the following simple model of money demand in Canada:
ln M1t = β1 + β2 lnGDPt + β3 ln Rt + ut
a. How would you interpret the parameters of this model?
b. Obtain the residuals from this model and find out if there is any ARCH effect.
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a The regression results are as follows Variable Coefficient Std Error tStatistic C 7...View the full answer
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