1.1 Biased but Consistent Use math to show why a model with a lagged dependent variable is biased but consistent when u, is not autocorrelated. 1.2 Biased and Inconsistent Use math to show why a model with a lagged dependent variable is biased and inconsistent when u, is autocorrelated. 1 .3 Long-run Effects Calculate the long-run effect at a one-time. one unit jump in x, on y for each of these models. 3a) 1:, = .5 + .4x, + .22, + :1, 3b) 3:, = .3 + .3x, + Liz, + .2x,-| + u, 30) y, = .3 + .2x, + .22, + .SyH + u