Hello,

Given the structural form of a simplified equilibrium model, in which there are no latent variables and Price and Quantity are the observable (note that #t indicates subscript t):

D#t = a + 2P#t + U#1t

S#t = c + U#2t

Q#t = D#t = S#t

Where the disturbances (U) follows a bi-variate normal distribution.

How would I go about finding the reduced form of the model and the joint distribution of Q and P? Thank you