The effect of uncertainty and instability on dynamic economic models with an application to cournot oligopoly
β Scribed by Wayne Winston
- Publisher
- Elsevier Science
- Year
- 1984
- Tongue
- English
- Weight
- 433 KB
- Volume
- 7
- Category
- Article
- ISSN
- 0165-1889
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π SIMILAR VOLUMES
In this paper a computationally practical simulation estimator is proposed for the two-tiered dynamic panel Tobit model originally developed by Cragg (1971). The log-likelihood function simulated through procedures based on a recursive algorithm formulated by the Geweke-Hajivassiliou-Keane simulator
## REFERENCE Kinal, T. and K. Lahiri (1993) , `On the estimation of simultaneous-equations error-components models with an application to a model of developing country foreign trade', Journal of Applied Econometrics, 8, 81Β±92.
This paper discusses the practical application of identiΓΏcation in cointegrated systems. It will argue that in a common realistic modelling situation of a limited data set and the theory requirements of a fairly rich model, the techniques proposed in the existing literature are almost impossible to