1. FIXED POINT ESTIMATION OF ECONOMETRIC MODELS.
- Author
-
Mitchell, Bridger M.
- Subjects
ECONOMETRIC models ,FIXED point theory ,ESTIMATION theory - Abstract
The problem of estimating structural parameters in simultaneous equation econometric models has recently been approached from a new direction by Herman Wold and his associates, who have classified models by the nature of structural interdependence and introduced the "fixed point" (FP) and closely related methods of estimation. In this paper we discuss some basic properties of the fixed point estimator, examine the implications of a more general stochastic specification for simultaneous equation models, and extend the FP method to models containing identities. [ABSTRACT FROM AUTHOR]
- Published
- 1974
- Full Text
- View/download PDF