A method of estimation of a single equation in a linear simultaneous equations model based on the maximization of the likelihood function, subject to the restrictions imposed by the structure.
A deep dive into Recursive Models, a specific version of simultaneous equations models characterized by a triangular coefficient matrix and no contemporaneous correlation of random errors across equations.
A comprehensive overview of Reduced Form, a formulation of simultaneous equations models where current endogenous variables are expressed in terms of exogenous and predetermined endogenous variables, including historical context, key events, mathematical formulations, and more.
