A Correspondence Principle for Simultaneous Equation Models
联立方程模型的对应原理
Simultaneity as a LimitA well-known and highly convincing position on the nature of simultaneity in econometric models is that such models are only approximations to the true state of affairs.In fact, causation takes time, and the reactions given by the equations of the model truly occur not instantaneously but with a very small time lag.Unfortunately, however, data do not come to us sufficiently finely divided in time to allow us to observe such fastmoving reactions, so we…