Econometrica Vol. 40 No. 5 1972
Constraints Often Overlooked in Analyses of Simultaneous Equation Models
Abstract
USUAL SPECIFYING ASSUMPTIONS for simultaneous equation econometric models imply strong inequality constraints on structural parameters which are formally similar to those encountered in connection with the classical errors-in-the-variables model.2 To illustrate, consider the following simple simultaneous equation model for two endogenous variables, Y,, and Y2t, say price and quantity, respectively:
- DOI
- 10.2307/1912072
- Volume
- 40
- Issue
- 5
- Pages
- 849
- Sources
- bibtex:phds-export.bib openalex crossref