Selling Latin America

Study week on the econometric approach to development planning

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Monograph

Identifikator:: 101030657X

URN:: urn:nbn:de:zbw-retromon-41609

Document type:: Monograph

Author:: Aughinbaugh, William E.

Title:: Selling Latin America

Place of publication:: Boston

Publisher:: Small, Maynard & Company Publishers

Year of publication:: 1915

Scope:: 1 Online-Ressource (VI, 408 Seiten)

Digitisation:: 2018

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: IX. Ecuador

Collection:: Economics Books

~T 3C"-SSION WoLD Prof. FISHER has given us an excellent survey of structura properties and estimation techniques for the dynamic econometric models known as interdependent (ID) systems and causal chain (CC) systems. Having over many years emphasized the clearcut rationale of CC systems, also known as recursive systems, I appre ciate verv much the fair treatment he has given this approach. His review of the ID approach is a very clarifying exposition of the many estimation techniques that have been proposed for ID-systems, a multitude of techniques that are known to work and give reconci- lable results when applied to small systems, whereas the situation is far from clear when it comes to large systems with many unknown parameters. The very pluralism of the methods is an indication that the problem of parameter estimation in large ID-systems has not yet found a satisfactory solution. The questions at issue are technical matter, Hence the first thing is to summarize what the two types models have and have not in common, so as to be able to locate and if possible clear up any divergencies that may exist. Three points will be mentioned. (1) In the beginning of section 2, Prof. FISHER states three as: sumptions R 1-3 that are to be satisfied by a CC system, al. in accordance with current theory of the probability structure and 61] Fisher - pag. 6=

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