Step-by-step computation of corrected asymptotic variance-covariance matrices of two-stage estimators in a simultaneous equations model with a mixture of four continuous and binary dependent variables

The current study presents easily computable formulas for asymptotic variance-covariance matrices of the two-stage estimators in a simultaneous equation model with a mixture of four continuous and binary dependent variables. For the sake of econometrics practitioners, the study uses an illustrative example from the current literature and demonstrates step-by-step computation of these variance-covariance matrices by using the matrix routine of a popular econometric software.