Analyse the case of ‘simultaneous equation bias’ in the Ke

Question

Analyse the case of ‘simultaneous equation bias’ in the Keynesian Model of Income Distribution.

13 Jul 2023

Answer :

Word Count : 310

The Keynesian Model of Income Distribution is an economic model that analyzes the relationship between aggregate income and consumption in an economy. The model includes two key equations: the consumption function and the savings function. The consumption function is a positive function of income, while the savings function is a negative function of income.

Simultaneous equation bias can occur in the Keynesian Model of Income Distribution when the consumption and savings functions are estimated simultaneously using the same data. This bias arises because the estimation _________ _____ ______ ___ __________ ________ _______ _______ _____ ____ ______ ________.
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