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4 An Econometric Model

4 An Econometric Model

fairmodel.econ.yale.edu

One of the equa- tions is redundant, and it is easiest to take Eq. 80 to be the redundant one. The 30 stochastic equations are discussed in Sections 4.1.4-4.1.9. The identities in the table are of two types. One type simply defines one variable in terms of others. ...

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