3. What happens if there is heteroske dasticity in an econometric problem? 1) The Ols estimators are maybe not blues( they are not efficient 2) The hypothesis tests for the parameters do not hold good though they is very important and so on3. What happens if there is heteroske￾dasticity in an econometric problem? 1) The OLS estimators are maybe not Blues (they are not efficient ). 2) The hypothesis tests for the parameters do not hold good though they is very important. and so on