Question: Question > You have collected data for 104 countries to address the difficult questions of the determinants for differences in the standard of living among

 Question > You have collected data for 104 countries to address

the difficult questions of the determinants for differences in the standard of

Question > You have collected data for 104 countries to address the difficult questions of the determinants for differences in the standard of living among the countries of the world. You recall from vour macroeconomics lectures that the neoclassical growth model suggests that output per worker (per capita income) levels are determined by, among others, the saving rate and population growth rate. To test the predictions of this growth model, vou run the following regression: RelPershie = 0339 12.804 x 5+ 1.307 x Sg RSe: (0.068) (3.177) (0.229) R2=0621,SER=0.177 where RelPersine 15 GDP per worker relative to the United States in percent, 7 15 the average population growth rate from 1980-1990, in percent, and SE 15 the average mvestment share of GDP from 1980 to 1990 in percent {remember investment equals saving). Numbers i parentheses are for heteroskedasticitv-robust standard errors. {a)3pts) What 15 the interpretation of the coefficients? (b} 6pts) Calculate the f-statistics of all coefficients. Are the coefficients individually significant

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