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Limited information estimation and testing subject to linear constraints

✍ Scribed by Kimio Morimune; Kosuke Oya


Publisher
Elsevier Science
Year
1996
Tongue
English
Weight
755 KB
Volume
50
Category
Article
ISSN
0378-3758

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## Abstract Applied econometricians often fail to impose economic regularity constraints in the exact form economic theory prescribes. We show how the Singular Value Decomposition (SVD) Theorem and Markov Chain Monte Carlo (MCMC) methods can be used to rigorously impose time‐ and firm‐varying equal