Consistent estimation when the left‐hand variable is exogenous over part of the sample period
因变量在部分样本期外生时的一致估计
Abstract This paper proposes a consistent estimation method for regression equations with a left‐hand variable that is endogenous for some observations, and exogenous for others. This method is applied to the estimation of a demand‐for‐money function for Switzerland over a time interval which includes periods of monetary control; that is periods when the quantity of money can best be viewed as exogenous.