Solution-Estimate the koyck model, Table gives the business

Estimate the koyck model

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Reference no: EM13891661

1. Table gives the business expenditures for new plant equipment of public utilities Y and the gross national product X, both in billions of dollars, for the United States from 1960 to 1979.

(a) Estimate the Koyck model [i.e., Eq. (8.10)]. (b) What are the values of A^ and a^?

Table Business Expenditures for New Plant Equipment of Public Utilities and the Gross National Product: United States, 1960-1979 (in Billions of Dollars)

Year	1960	1961	1962	1963	1964	1965	1966	1967	1968	1969
Y	5.2	5.0	4.9	5.0	5.5	6.3	7.4	8.7	10.2	11.6
X	506.0	523.3	563.8	594.7	635.7	688.1	753.0	796.3	868.5	935.5
Year	1970	1971	1972	1973	1974	1975	1976	1977	1978	1979
Y	13.1	15.3	17.0	18.7	20.6	20.1	22.3	25.8	29.5	33.2
X	982.4	1063.4	1171.1	1306.6	1412.9	1528.8	1702.2	1899.5	2127.6	2368.5

Source: Economic Report of the President, U.S. Government Printing Office, Washington, DC, 1980, pp. 203, 255.

Reference no: EM13891661

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Estimate the koyck model

Reference no: EM13891661

Reference no: EM13891661

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