where p_oil and p_copper 11. Consider a linear model ln(p_oil) * 100 ao + ailn(p_copper) ...
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where p_oil and p_copper 11. Consider a linear model ln(p_oil) * 100 ao + ailn(p_copper) ⋆ 100 + ut, measure oil and copper prices in dollars per barrel and dollars per ton respectively. The model is at a weekly frequency and t indexes the variables across time. All parameters are positive. = a. (1 point) If copper prices grow by 1% then what will happen to oil prices? Your answer should characterize the direction of the change as well as the magnitude. where p_oil and p_copper 11. Consider a linear model ln(p_oil) * 100 ao + ailn(p_copper) ⋆ 100 + ut, measure oil and copper prices in dollars per barrel and dollars per ton respectively. The model is at a weekly frequency and t indexes the variables across time. All parameters are positive. = a. (1 point) If copper prices grow by 1% then what will happen to oil prices? Your answer should characterize the direction of the change as well as the magnitude.
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