Multi-Equation Econometric Models

Jerzy Witold Wiśniewski
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Jerzy Witold Wiśniewski: Nicolaus Copernicus University, Toruń

Chapter Chapter 2 in Forecasting from Multi-equation Econometric Micromodels, 2023, pp 23-36 from Springer

Abstract: Abstract The second chapter presents elementary information connected with the construction of econometric models consisting of many equations. Such models are used to describe economic systems or only parts of them. Three classes of these models are presented, i.e. simple models, recursive models, and systems of interdependent equations. The structural form of such a model and its reduced form are discussed. The essence and the need to identify the multi-equation model were explained. The basic methods of estimating the parameters of models belonging to each of the indicated classes are also characterized.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-031-27492-3_2

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DOI: 10.1007/978-3-031-27492-3_2

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