Specification Analysis in Dynamic Models
动态模型的设定分析
The theoretical and empirical implications of omitted variables, particularly dynamic adjustment effects, are studied. In particular, the attempt to model for such omission by including possibly irrelevant variables is investigated. This extends the existing knowledge of misspecification analysis in several directions. Ordinary least squares is the estimation technique under study, as has been the case in several recent and related studies. In our empirical example, the…