1. Note that both endogenous variables depend on the exogenous variable " Z ". 2. Consequently, they assert that economic models must take these typically exogenous variables into account. 3. Again, each endogenous variable depends on potentially each exogenous variable . 4. In today's global business, however, multinational activities represent much more than just an exogenous variable . 5. Where z and w are vectors of exogenous variables . 6. The main exogenous variables are the gross domestic product and population for each country or region. 7. Without further restrictions, the first equation is not identified because there is no excluded exogenous variable . 8. To solve this problem, Dunning, for example, treats multinational activities as a third exogenous variable which should be added to Porter's model. 9. The transition might depend on the "'past values "'of the " x " series ( similar to the SETAR models ), or exogenous variables . 10. For that, we would need an exogenous variable which is included in the supply equation of the structural model, but not in the demand equation.
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