What is mean be "the indentification problem" in the context
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What is mean be "the indentification problem" in the context of simultaneous equations economic models.
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Solution Summary
Identification problem in economic models comes into consideration when we have n variables and m equations. The solution describes various conditions.
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Identification problem in economic models comes into consideration when we have n variables and m equations.
Condition 1: If n > m then the model is under identified (defined). In this case we have no unique solution. We have infinite number of solutions. ...
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