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The Significance of Simultaneous Methods of Parameter Estimation in Econometric Models

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  • R. J. Ball

Abstract

The author argues the need for some practical measures as a guide to the estimation of econometric models. Although many theoretical problems still remain unsolved, simultaneous linear equation models play an important part in economic forecasting. This being so, the author's largely intuitive approach attempts to provide a criterion for the selection of the best fit between the ‘known’ variables and the variables to be forecast. Drawing upon an elementary econometric model of the United Kingdom he gives empirical results which tend to support his approach.

Suggested Citation

  • R. J. Ball, 1963. "The Significance of Simultaneous Methods of Parameter Estimation in Econometric Models," Journal of the Royal Statistical Society Series C, Royal Statistical Society, vol. 12(1), pages 14-25, March.
    • Handle: RePEc:bla:jorssc:v:12:y:1963:i:1:p:14-25
    DOI: 10.2307/2985907
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    Cited by:

    1. Dilek Cetin & Michele Cincera, 2015. "Circular Causality of R&D and Export in EU countries," World Journal of Applied Economics, WERI-World Economic Research Institute, vol. 1(1), pages 82-105, June.
    2. Shmueli, Galit & Ray, Soumya & Velasquez Estrada, Juan Manuel & Chatla, Suneel Babu, 2016. "The elephant in the room: Predictive performance of PLS models," Journal of Business Research, Elsevier, vol. 69(10), pages 4552-4564.

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