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Flexible Least Squares for Approximately Linear Systems

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Author Info
Kalaba, R.
Tesfatsion, Leigh S.

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Abstract

The problem of filtering and smoothing for a system described by approximately linear dynamic and measurement relations has been studied for many decades. Yet the potential problem of misspecified dynamics, which makes the usual probabilistic assumptions involving normality and independence questionable at best, has not received the attention it merits. This study proposes a probability-free filter that meets this misspecification problem head on, referred to as Generalized Flexible Least Squares for Approximately Linear Systems (GFLS-ALS). A Fortran program implementation is provided for GFLS-ALS, and references to simulation and empirical results are given. Although GFLS-ALS has close connections with the standard Kalman filter, it is concretely demonstrated that there are also important conceptual and computational distinctions. The Kalman filter provides a unique estimate for the state sequence, conditional on maintained probability assumptions for discrepancy terms. In contrast, the GFLS-ALS filter provides a family of state sequence estimates, each of which is vector-minimally incompatible with the prior dynamical and measurement specifications. The GFLS-ALS filter was incorporated into the statistical package GAUSS/TSM in 1997. Annotated pointers to related work can be accessed here: http://www.econ.iastate.edu/tesfatsi/flshome.htm

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Publisher Info
Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 11190.

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Date of creation: 11 Jan 2004
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Publication status: Published in IEEE Transactions on Systems, Man, and Cybernetics, 1990, Vol. 20, No. 5, pp. 978-989.
Handle: RePEc:isu:genres:11190

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Related research
Keywords: Approximately linear systems; nonlinear estimation; flexible least squares;

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C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General
C5 - Mathematical and Quantitative Methods - - Econometric Modeling

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  1. Luis Fernando Melo Velandia & Héctor M. Núñez Amortegui, 2004. "Combinación de pronósticos de la inflación en presencia de cambios estructurales," BORRADORES DE ECONOMIA 002153, BANCO DE LA REPÚBLICA. [Downloadable!]
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  2. Ling T. He, & James. R. Webb & Neil Myer, 2003. "Interest Rate Sensitivities of REIT Returns," International Real Estate Review, Asian Real Estate Society, vol. 6(1), pages 1-21. [Downloadable!]
  3. Claudio Morana, 2004. "The Japanese Deflation: Has It Had Real Effects? Could It Have Been Avoided?," ICER Working Papers 29-2004, ICER - International Centre for Economic Research. [Downloadable!]
  4. Claudio Morana, 2005. "The Japanese deflation: has it had real effects? Could it have been avoided?," Applied Economics, Taylor and Francis Journals, vol. 37(12), pages 1337-1352, July. [Downloadable!] (restricted)
  5. Kuethe, Todd H. & Foster, Kenneth A. & Florax, Raymond J.G.M., 2008. "A Spatial Hedonic Model with Time-Varying Parameters: A New Method Using Flexible Least Squares," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6306, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  6. Robert Kalaba & Leigh Tesfatsion, 1995. "A Multicriteria Approach to Model Specification and Estimation," Econometrics 9501001, EconWPA. [Downloadable!]
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