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Does Simultaneity Matter? (Paperback)
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Does Simultaneity Matter? (Paperback)
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A simultaneous equations model is developed which endogenizes
economic growth, income inequality, corruption, and political
instability while using initial GDP, average schooling, investment
share of GDP, population growth, educational inequality, trade
share of GDP, and ethnolinguistic fractionalization as exogenous
variables. Twenty-two different specifications of the model are
then estimated using ordinary least squares (OLS), two-stage least
squares (2SLS), and three-stage least squares (3SLS) estimation
methods. Both the structural and reduced form estimates exhibit
changing results for several variables as we switch from OLS to
simultaneous methods. Therefore, it is inappropriate to use only
OLS estimators when there may be feedback effects between
variables. The OLS results may exhibit simultaneous bias and lead
to incorrect policy recommendations if they are used without being
compared to the results of simultaneous estimation methods.
However, simultaneous estimators may also experience certain
biases. Therefore, both OLS and simultaneous estimators must be
used by researchers in order to determine the best course of
policy.
General
Imprint: |
VDM Verlag
|
Country of origin: |
Germany |
Release date: |
August 2009 |
First published: |
August 2009 |
Authors: |
Carol Tallarico
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Dimensions: |
229 x 152 x 11mm (L x W x T) |
Format: |
Paperback - Trade
|
Pages: |
192 |
ISBN-13: |
978-3-639-18293-4 |
Categories: |
Books >
Business & Economics >
Economics >
General
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LSN: |
3-639-18293-6 |
Barcode: |
9783639182934 |
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