Your Textbook Presents as an Example of a Distributed Lag

question 31

Essay

Your textbook presents as an example of a distributed lag regression the effect of the weather on the price of orange juice. The authors mention U.S. income and Australian exports, oil prices and inflation, monetary policy and inflation, and the Phillips curve as other potential candidates for distributed lag regression. You are considering estimating the effect of minimum wages on teenage employment (employment population ratio)using a time series of U.S. data. Write a short essay on whether a distributed lag model would be a suitable tool to figure out dynamic causal effects in this case.

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Definitions:

Instrumental Conditioning

A learning process in which the consequences of a behavior influence the likelihood of its recurrence, emphasizing rewards and punishments.

Attitude

An inclination in psychology marked by assessing an entity with a certain level of like or dislike.

Buckley's

A brand known for its line of over-the-counter medications, notable for their pronounced taste and effectiveness claim.

Low-Involvement Hierarchy

A concept in consumer behavior where decisions are made with minimal cognitive effort and after the purchase, based on basic beliefs and attitudes.