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Estimating a Structural Equation in a Large System

Walter D. Fisher · Walter J. Wadycki刊期 1971-05 · 卷 39（3）Econometrica已编入正刊

In two stage least squares estimation, when the matrix Z of predetermined variables has less than full column rank, Z'Z is singular. It is shown that in this situation 2SLS still can be used and that Y-the result of the first stage-is still uniquely determined; also shown is that 2SLS will often be equivalent to OLS. IN A LARGE SYSTEM containing many equations and many predetermined variables, it is a common occurrence to find that the second moment matrix involving all of…

工具变量
被引 48 次 ↗OpenAlex · 核验
阅读原文 ↗BibTeX ↓

On a Pooling Problem from the Statistical Decision Viewpoint

Walter D. Fisher刊期 1953-10 · 卷 21（4）Econometrica已编入正刊

统计决策视角下的合并分组问题AI 解读

A problem is posed of how to divide a set of K independent random variables into a smaller number of mutually exclusive groups so that the groups are homogeneous. Following some ideas of Wald, a loss function is postulated from economic considerations; a Bayes solution to the problem is derived and the resulting least squares criterion applied to a numerical example. Some limitations of the approach are discussed; relationships to other work are indicated.

贝叶斯
被引 18 次 ↗OpenAlex · 核验
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