In an empirical economic analysis, how does the econometric model relate to the economic model? Check all that apply. The economic model imposes a functional form on the more generally specified econometric model. The economic model attempts to account for the variables in the econometric model that cannot be reasonably observed. The economic theory is used to choose the variables in the economic model but not the variables in the econometric model. The econometric model imposes a functional form on the more generally specified economic model.

In an empirical economic analysis, how does the econometric model relate to the economic model? Check all that apply. The economic model imposes a functional form on the more generally specified econometric model. The economic model attempts to account for the variables in the econometric model that cannot be reasonably observed. The economic theory is used to choose the variables in the economic model but not the variables in the econometric model. The econometric model imposes a functional form on the more generally specified economic model.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter15: Monetary Policy

Section: Chapter Questions

Problem 1QP

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