(Solved): Consider the following Autoregressive Distributed Lagged, ARDL \( (1,1,0) \) model for three varia ...

Consider the following Autoregressive Distributed Lagged, ARDL \( (1,1,0) \) model for three variables \( Y_{t}, X_{t} \), and \( Z_{t} \) is as follows: \[ Y_{t}=\beta_{0}+\beta_{1} Y_{t-1}+\beta_{2} X_{t}+\beta_{3} X_{t-1}+\beta_{4} Z_{t}+e_{t} \] a. Define the long-run coefficients of \( \mathrm{Xt} \) and \( \mathrm{Zt} \). b. Derive the short-run dynamic model. c. Based on the above three variables, formulate an ARDL Bound cointegration model.