You are interested in estimating the following model:Y₁ Bo + B₁Y21 + B₂X11 + B3X21 + nibut are worried about the endogeneity of Y₂, you have 2 potential instruments, denoted Z₁, and Z₂. You have n = 100observations and estimate the following models by OLS:Dep. Variable Y Y₁ Y₁ Y₁ Y₂ Y₂ Y₂2.251 2.1140.457constantY₂X₁X₂Y₂ûY₁Z₁Z₂RSSAnswer:172.889 1.765 -1.004 -0.883-1.269 0.249 0.0860.1190.2210.2941.221 1.001 0.992 0.823 0.445 0.557 0.678 0.125 0.064 0.1780.886 1.005 -0.216 -0.042 -0.142-0.707-0.882-0.802-0.665 1.2290.2210.446ĥ0.233-0.112 0.3450.445 0.1410.345 -0.292-0.118 -0.09714.20 14.85 13.76 14.06 10.02 11.59 9.85 6.99 7.330.114-0.1626.62where û are the residuals and Y₂ are the fitted values from the appropriate 1st stage regression. The test for instrumentrelevance is (2 decimal places):

The F-test for the Hausman-Wu test for endogeneity of Y₂ is not possible to calculate from the…

Answered: You are interested in estimating the…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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