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Definitions Objectives and Approaches
A Guided Tour of the Book
Static Theory with Exact Equations
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2SLS apply approximate assumed assumptions asymptotic Basmann Chapter column condition conditional distribution consistent constant term consumption consumption function covariance covariance matrix cross-section model defined definition demand equation denoted dependent variable derivative determinant deviations difference equation discussed disturbances dynamic econometric economic endogenous variables equal equilibrium example excise-tax exogenous expected value expressed Figure forecast given Hence identified income independent interval interval estimator investment equation jointly dependent variables Koopmans lagged least-squares estimators least-squares method limit linear combination loss function matrix mean Model 2 normal multiplied normal distribution notation obtained overidentified plim predetermined variables prediction probability distribution problem quantity random variables reduced form reduced-form equations reduced-form parameters regression residuals restrictions result sample serial correlation slope solution statistic statistically independent stochastic structural equations structural parameters Suppose Table theoretical theory two-stage least-squares unbiased variance vector zero