Suppose that you want to estimate the effect of years of

Last updated: 10/19/2023

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