CONSUMPTION EQUATION

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2SLS estimation results
Observations 21
R-squared 0.976711
Sigma-squared 1.044059

                  estimate     st.err.     t-stat.     p-value  
Constant            16.555       1.321      12.534       0.000
Profits              0.017       0.118       0.147       0.885
Lagged Profits       0.216       0.107       2.016       0.060
Wages                0.810       0.040      20.129       0.000

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INVESTMENT EQUATION

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2SLS estimation results
Observations 21
R-squared 0.884884
Sigma-squared 1.383184

                  estimate     st.err.     t-stat.     p-value  
Constant            20.278       7.543       2.688       0.016
Profits              0.150       0.173       0.867       0.398
Lagged Profits       0.616       0.163       3.784       0.001
Lagged Capital      -0.158       0.036      -4.368       0.000

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WAGES EQUATION

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2SLS estimation results
Observations 21
R-squared 0.987414
Sigma-squared 0.476427

                 estimate     st.err.     t-stat.     p-value  
Constant            1.500       1.148       1.307       0.209
Output              0.439       0.036      12.316       0.000
Lagged Output       0.147       0.039       3.777       0.002
Trend               0.130       0.029       4.475       0.000

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