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Special Topics in Simultaneous Equations

  • Thomas B. Fomby
  • Stanley R. Johnson
  • R. Carter Hill

Abstract

In this chapter we review selected special topics related to simultaneous equations. In Sections 25.2 and 25.3 we consider extensions of the tobit and probit models (Chapter 16) into the simultaneous equations framework. In Section 25.4 we consider systems of equations that describe disequilibrium situations, Section 25.5 contains a generalization of the usual error assumptions associated with simultaneous equations estimation, vector autoregressive disturbances. The important topic of rational expectations is reviewed in Section 25.6. Finally, procedures for updating parameter estimates using sample or nonsample information are considered in Section 25.7 in the context of a single equation model, and extensions to the simultaneous equations context briefly described.

Keywords

Special Topic Kalman Filter Endogenous Variable Simultaneous Equation Rational Expectation 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media New York 1984

Authors and Affiliations

  • Thomas B. Fomby
    • 1
  • Stanley R. Johnson
    • 2
  • R. Carter Hill
    • 3
  1. 1.Department of EconomicsSouthern Methodist UniversityDallasUSA
  2. 2.The Center for Agricultural and Rural DevelopmentIowa State UniversityAmesUSA
  3. 3.Department of EconomicsLouisiana State UniversityBaton RougeUSA

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