A model of wages and prices is presented V. = , +a,P. +8,9, +4. P. = , + BW, + 8.1, + Where W is the wage rate, P is the
Posted: Thu May 19, 2022 9:26 am
A model of wages and prices is presented V. = , +a,P. +8,9, +4. P. = , + BW, + 8.1, + Where W is the wage rate, P is the price indicator, product, Y the income -Establish what type of multiequational model it is -Indicate the endogenous and exogenous variables -Construct the synthetic version of the reduced form of the model. -Identify the system using the exclusion technique. Conclusion?