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...

書目詳細資料
Main Authors:	Graddy, K, Kennedy, P
格式:	Working paper
語言:	English
出版:	Department of Economics (University of Oxford) 2006

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