Simultaneousequation Methods

Having discussed the nature of the simultaneous-equation models in the previous two chapters, in this chapter we turn to the problem of estimation of the parameters of such models. At the outset it may be noted that the estimation problem is rather complex because there are a variety of estimation techniques with varying statistical properties. In view of the introductory nature of this text, we shall consider only a few of these techniques. Our discussion will be simple and often heuristic, the finer points being left to the references.

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