The Classical Econometric Model

David Pollock ()

No 08/33, Discussion Papers in Economics from Division of Economics, School of Business, University of Leicester

Abstract: A compendium is presented of the various approaches that may be taken in deriving the estimators of the simultaneous-equations econometric model according to the principle of maximum likelihood. The structural equations of the model have the character both of a regression equation and of an errors-in-variables equation. This partly accounts for way in which the various approaches that have been followed appear to differ widely. In the process of achieving a synthesis of the methods of estimation, some elements that have been missing from the theory are supplied.

Date: 2008-09
New Economics Papers: this item is included in nep-cba, nep-ecm and nep-mac
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