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Special Topics in Simultaneous Equations

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Advanced Econometric Methods

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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.

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Author information

Authors and Affiliations

  1. Department of Economics, Southern Methodist University, Dallas, TX, 75275, USA

    Thomas B. Fomby

  2. The Center for Agricultural and Rural Development, Iowa State University, Ames, IA, 50011, USA

    Stanley R. Johnson (Director)

  3. Department of Economics, Louisiana State University, Baton Rouge, LA, 70803, USA

    R. Carter Hill

Authors
  1. Thomas B. Fomby
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  2. Stanley R. Johnson
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  3. R. Carter Hill
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© 1984 Springer Science+Business Media New York

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Fomby, T.B., Johnson, S.R., Hill, R.C. (1984). Special Topics in Simultaneous Equations. In: Advanced Econometric Methods. Springer, New York, NY. https://doi.org/10.1007/978-1-4419-8746-4_25

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  • DOI: https://doi.org/10.1007/978-1-4419-8746-4_25

  • Publisher Name: Springer, New York, NY

  • Print ISBN: 978-0-387-96868-1

  • Online ISBN: 978-1-4419-8746-4

  • eBook Packages: Springer Book Archive

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