Question: Refer to the data given in the following table of Chapter 18. Using these data, estimate the reduced-form regressions (19.1.2) and (19.1.4). Can you estimate

Refer to the data given in the following table of Chapter 18. Using these data, estimate the reduced-form regressions (19.1.2) and (19.1.4). Can you estimate Î²₀and Î²₁? Show your calculations. Is the model identified? Why or why not?

Y: (1) Ut (2) (3) (4) 2.0 -0.3686055 18.15697 16.15697 19.59980 17.59980 2.0 -0.8004084E-01 21.93468 19.73468 2.2 0.1869

Y: (1) Ut (2) (3) (4) 2.0 -0.3686055 18.15697 16.15697 19.59980 17.59980 2.0 -0.8004084E-01 21.93468 19.73468 2.2 0.1869357 21.55145 19.35145 2.2 0.1102906 21.88427 19.48427 2.4 -0.2314535E-01 22.42648 2.4 20.02648 0.8529544E-01 0.4818807 25.40940 22.80940 2.6 22.69523 20.09523 2.6 -0.6095481E-01 24.36465 21.56465 2.8 0.7292983E-01 21.59334 24.39334 2.8 0.7866819E-01 24.09215 21.09215 3.0 -0.1815703 24.87450 21.87450 3.0 -0.2509900E-01 25.31580 22.11580 3.2 3.2 -0.1368398 26.30465 23.10465 0.6092946E-01 25.78235 22.38235 3.4 -0.2435298 26.08018 27.24440 22.68018 3.4 -0.1839638 23.64440 3.6 -0.1511200 3.6 28.00963 24.40963 0.1926739E-02 30.89301 27.09301 3.8 0.3786015 28.98706 25.18706 3.8 -0.2588852E-02

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