Me: > Put differently, who was responding to whom and how are we going to > find an answer to this question by econometric means?
By the way Jim, I was expecting a response such as use SUR (Seemingly Unrelated Regressions) or 2SLS (Two Stage Least Squares) or maybe 3SLS if you want to make the model even nicer looking, find some IVs (Instrumental Variables), use many other so-called "controls variables" and the like. Your response shows that you have not been dealing with econometrics for the last 30 years, as you said. But, suppose that you did everything there is to do and reached to the conclusion that yeah, both parties were responding to each other and more. Then what happens? Best, Sabri _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
