Please help with this homework assignment. Please be elaborate and original. Copy and paste will not be accepted.Reviseyour work before you send it back.References needed. Thanks a lot.

Questions:

1. Explain why structural models are generally superior to reduced-form models.

2. Describe the types of evidence that can strengthen researchers' conviction that a reduced-form model has the direction of causation right, say, from money (M) to output (Y).

3. Describe the evidence that money matters.

4. List and explain several important monetary policy transmission mechanisms.