Equation Systems

A. A. Walters
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A. A. Walters: London School of Economics

Chapter 8 in An Introduction to Econometrics, 1970, pp 177-204 from Palgrave Macmillan

Abstract: Abstract Many of the basic ideas in economics are expressed in the form ‘given X we shall observe ϒ’. In demand analysis, for example, X is price and ϒ is the quantity sold; in the theory of the consumption function X is aggregate personal disposable income and ϒ is expenditure on consumption. This is a simple form of theory and can be expressed as 8.1 ϒ = F ( X ) . ]]

Keywords: Equation System; Exogenous Variable; Endogenous Variable; Econometric Model; Reduced Form (search for similar items in EconPapers)
Date: 1970
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DOI: 10.1007/978-1-349-15277-3_8

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