RDP 7901: Estimation and Statistical Evaluation of an Economic Model Attachment C

Unconstrained OLS Estimates

The specification of the model is as reported in Section 7 of Jonson et al (1977). The t-value for the parameter estimate is given where available.

1. Household expenditure, demand for money

3. Changes in labour demand, desired inventories

5. Imports

6. Output of goods

7. Price of output

10. Average weekly earnings

12. Non-bank demand for government securities