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Introduction to Simultaneous Equation Models by Niken Dwi is a document available to read on EtoBox.
What is Introduction to Simultaneous Equation Models about?
This document introduces simultaneous equation models used in demand and supply analysis. It notes that estimating the parameters of demand and supply models using ordinary least squares regression leads to biased results due to explanatory variables being correlated with the error term. To demonstrate this, it will review how explanatory variable/error term correlation affects OLS estimates, present a demand and supply model for beef, and estimate the model using both OLS and a reduced form approach to com
- Author
- Niken Dwi
- Language
- EN