The institutional change is the coefficient result of exogenous variable and endogenous variable.
制度变迁的产生是外生变量和内生变量共同作用的结果。
An exogenous variable is a variable that is not explained by the model but rather is taken as given.
外生变量是模型本身不予以解释而是当成已知的变量。
Neoclassic economy growth theory regards technology advancement as exogenous variable, fails to explain comprehensively the cause of economy growth.
新古典增长理论将技术进步看作外生变量，无法全面解释经济增长的动因。
M1 and M2 indirectly effect the stock market through GDP but no transmition mechanism is formed stock market is a weakly exogenous variable in the cointegration vector.
M2均通过GDP对股市产生间接影响，但没有形成利率传导机制，我国股市是关于协整向量的弱外生变量。
Endogenous financial theory claims that the supply of monetary base is not an exogenous variable controlled by central bank, but endogenously determined by economic system.
内生金融理论认为，中央银行基础货币的供给并非是由中央银行完全控制的外生变量，而主要是由经济体系内生决定的。
Knowledge is not only an endogenous variable, but also an exogenous variable, which is the base to understand the characteristic of the returning law of hi-technology in knowledge-based economy.
知识既是内生变量，又是外生变量，这是理解高科技知识报酬规律的基础。
In the short run, the monetary disequilibrium enters the VECM as an exogenous variable with significant negative effects, which confirms the theoretical prediction of the monetary approach again.
在短期，货币市场失衡作为外生变量显著地进入到VECM中，且其符号为负，这也证明了货币模型的结论。
Technological change in the early climate policy models is often seen as non-economic, exogenous variable, so the in-depth analysis of the cause and effect of technological change is very difficult.
但是早期的气候政策模型通常将技术变化视为非经济的外生变量，因而无法对技术变化的起因和效果做深入分析。
Technological change in the early climate policy models is often seen as non-economic, exogenous variable, so the in-depth analysis of the cause and effect of technological change is very difficult.
但是早期的气候政策模型通常将技术变化视为非经济的外生变量，因而无法对技术变化的起因和效果做深入分析。
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