PLEASE USE "R" CODES TO ANSWER AND PLEASE GIVE AN EXPLANATION OF THE STEPS AND VALUES.

In the database OpeninfiPChaxdscontains data on a cross section of countries' trade openness, average annual inflation rate, total land area and per capita incomes. The variables included are: Using this data, we need to estimate how the countries' trade openness (as measured by the variable Open) affect their average inflation. That is, we are trying to find the correct value and sign of 11 (i.e., we want to correctly identifythe effect of openness on inflation). The above relates to a two-equation system, Inf=10+11Open+12ln(Pcinc)+1(1)Open=20+21lnf+22ln(Pcinc)+23ln(Land)+2 Equation (1) is the equation of interest to determine the correct effect of trade openness of a country on its inflation rate. Apart from openness, inflation of a country is also affected by the per capita income via the labor market, with increased employment and labor shortages raising prices (like it is happening in the U.S. currently.) The second equation reflects the fact that trade openness of the country could be affected by its inflation (when things are more expensive at home, you try to buy cheaper imports), the country's per capita income (people having higher incomes demand more imports) and also, the country's total land area. Note that total land area is assumed to be affecting the openness only, as smaller countries are bound to depend more on imports for food, whereas there is very scant evidence that total land has any effect on inflation. Use a Simultaneous Equation Model in R to identify 11 correctly