Modeling the global nickel market with a triangular simultaneous equations model

Nikolay Didenko ()
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Nikolay Didenko: Peter the Great St. Petersburg Polytechnic University

International Journal of System Assurance Engineering and Management, 2020, vol. 11, issue 1, No 11, 119-129

Abstract: Abstract The global nickel market is being modeled using a triangular simultaneous equations model. The model is constructed to analyze the different situations of the market development. The content and nature of the global nickel market is examined to identify the characteristics that are needed to build the model. In this paper, two-step nonparametric estimator for a triangular simultaneous equation model is employed. The diminished form and the corresponding residuals are estimated non-parametrically in the first step. The research includes the estimation of the structural equation using the nonparametric regression with the diminished form residuals that is considered as the second step. The estimator is derived with consistency and asymptotic normality outcomes as well as optimal convergence rates. Moreover, the model is used to analyze the responses of the market to structural changes.

Keywords: Global nickel market; Simultaneous equations model; Reduced form; Structural model; Simultaneity; Two-stage-least-squares (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (2)

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DOI: 10.1007/s13198-019-00936-0

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