Ct = Bo + B, Y + et, Bo > 0, 0 F R-squared Ady R-squared Root MSE 44 182.00 0.0000 0.8125 0.8080 1513.5 Total ! 513089424 43 11932312.2 Coef. Std. Err. t P>It! YI -cons .8511874 2002.609 .0630948 3401.089 13.49 0.59 (95% Conf. Intervall .7238569 .9785179 -4861.066 8866.285 0.000 0.559 = 2002.7+0.851 Y, (3401) (0.063) a) Are these OLS estimators unbiased and consistent? If not, what is the problem? Explain. b) We can use Yt-1 and Y4-2 as instrumental variables for Yt. Are these good instruments for Y4? Explain. c) How do we get the consistent estimates with these instruments by 2SLS estimation? Write the Stata codes step by step and explain. Ct = Bo + B, Y + et, Bo > 0, 0 F R-squared Ady R-squared Root MSE 44 182.00 0.0000 0.8125 0.8080 1513.5 Total ! 513089424 43 11932312.2 Coef. Std. Err. t P>It! YI -cons .8511874 2002.609 .0630948 3401.089 13.49 0.59 (95% Conf. Intervall .7238569 .9785179 -4861.066 8866.285 0.000 0.559 = 2002.7+0.851 Y, (3401) (0.063) a) Are these OLS estimators unbiased and consistent? If not, what is the problem? Explain. b) We can use Yt-1 and Y4-2 as instrumental variables for Yt. Are these good instruments for Y4? Explain. c) How do we get the consistent estimates with these instruments by 2SLS estimation? Write the Stata codes step by step and explain