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Consider the following binary variable version of the fixed effects model. Each regressor Dis a binary...
Consider the following binary variable version of the fixed effects model. Each regressor Dj is a binary variable that equals 1 when i -j and 0 otherwise. Note that the binary variable D1, for the first group is arbitrarily omitted. Use the regression in the equation above and the tool palette to the right to answer the following questions. What is the slope and intercept for entity 1 in time period 2? The slope of entity 1 in time period...
Consider the following binary variable version of the fixed effects model. Each regressor Dj is a binary variable that equals 1 when i j and 0 otherwise. Note that the binary variable D1, for the first group is arbitrarily omitted Use the regression in the equation above and the tool palette to the right to answer the following questions What is the slope and intercept for entity 1 in time period 2? The slope of entity 1 in time period...
In the twentieth century, department stores and supermarkets largely replaced smaller specialty stores, as consumers found it more efficient to go to one store rather than many stores. Consumers incur a transaction cost to shop, primarily the opportunity cost of their time. This transaction cost consists of a fixed cost of traveling to and from the store and a variable cost that rises with the number of different types of items the consumer tries to find on the shelves. By...
1. Consider a variant of the two-period model of consumption-saving behavior. In this version of the model, the consumer has income y in the first period and no income in the second period. Her life-time budget constraint is c+ a - 1+r = y. (a) Draw this budget constraint in a diagram with con horizontal axis and d on vertical axis. What are the slope and vertical intercept of this budget constraint? Label the endowment point in the diagram. (3...