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Suppose that you want to estimate the effect of years of education on log wages using those variables and some other explanatory variables You consider
Suppose that you want to estimate the effect of years of education on log wages using those variables and some other explanatory variables You consider estimating by OLS a Explain the conditions needed for obtaining a consistent estimator by OLS bj Give a proof that OLS is consistent for the case of one explanatory variable Explain the role of assumption MLR 4 c Explain what happends to the consistency result if you exclude a relevant explanatory variable
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