When are Supply and Demand Determined Recursively Rather than Simultaneously? Another look at the Fulton Fish Market Data.

When are Supply and Demand Determined Recursively Rather than Simultaneously? Another look at the Fulton Fish Market Data.

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When a supply and demand model is recursive, with errors uncorrelated across the two equations, ordinary least squares (OLS) is the recommended estimation procedure. Supply to a daily fish market is determined by the previous night’s catch, so this would appear to be a good example of a recursive ma...

書誌詳細
主要な著者:	Graddy, K, Kennedy, P
フォーマット:	Working paper
言語:	English
出版事項:	Department of Economics (University of Oxford) 2006

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