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QUESTION
log(earnings) = beta1 + beta 1alcohol + beta 2educ + u1 alcohol = gamma0 + gamma1 log(earnings) + 2gamma educ + gamma3 log(price) + u2 Question :
log(earnings) = beta1 + beta1alcohol + beta2educ + u1
alcohol = gamma0 + gamma1 log(earnings) + 2gamma educ + gamma3 log(price) + u2Question : This identified simultaneous equation models above can be identified?
