Question: Please answer the following question! 5. (Deterministic Trend Model; 20 pts, 10 pts each) Another model, which can describe the trending behavior of the time

Please answer the following question!

5. (Deterministic Trend Model; 20 pts, 10 pts each) Another model, which can describe the trending behavior of the time series, is the following " deterministic trend model": Yt = t+Et, Yo = 0, (DT Model) Et ~ iid (0,0?) . (a) Briefly desribe the difference between (UR Model) and (DT Model). (b) Explain why the economic researchers would prefer (UR Model) to (DT Model) when modelling the trending economic time series

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