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explain Cohen & Plog's Model?
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- Under OLS model, how is the decision of OLS framework reasonable?Using sound economic theory, develop a macroeconomic econometric model that would test the relationshipbetween globalisation and economic development in South Africa. You are to state the a priori expectations ofwhat the model would tell us, and you are to write the model using ‘Word Equation’. Finally, each variable that isincluded must be justified regarding its relevance for being there.a) What are some of the main assumptions behind the H-O (Heckscher-Ohlin) model. b) What is/are the assumption(s) of the H-O model in regards to demand? How does (do) this (these) deviate from the Classical School assumptions? c) Examine the Stolper-Samuelson Theorem in conjunction with the H-O model and the factors of production.
- A) What are typical average levels of inflation and unemployment in theU.S.? B) Do we have these levels often or are these variables with highvariance? C) How did these variables change during and after COVID? (youwill need more recent data.Present the classical model of choice under uncertainty. What are the five assump- tions which characterize the Von-Neumann-Morgenstern expected utility repre- sentation?What is Nehru _ Mehallobian strategy critically evaluate the achievements and short comings of the model