Introduction To Econometrics
In simultaneous equations models, each equation is normalized with respect to one endogenous variable. Strictly speaking, since the endogenous variables are all jointly determined, it should not matter which variable is chosen for normalization. However, some commonly used methods of estimation (lik...
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| Main Author: | |
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| Format: | Book |
| Language: | English |
| Published: |
New York
Macmillan Publishing Company
1992
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| Edition: | SECOND EDITION |
| Subjects: | |
| Online Access: | Click Here to View Status and Holdings. |
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Add Tag | Summary: | In simultaneous equations models, each equation is normalized with respect to one endogenous variable. Strictly speaking, since the endogenous variables are all jointly determined, it should not matter which variable is chosen for normalization. However, some commonly used methods of estimation (like the two-stage least squares) do depend on the normalization rule adopted. In practice, normalization is determined by the way economic theories are formulated. |
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| Physical Description: | xviii, 631 pages illustration 24 cm |
| Bibliography: | Includes bibliographical references and index |
| ISBN: | 0023745452 9780023745454 |
Introduction to econometrics