Consistent estimation when the left-hand variable is exogenous over part of the sample period |
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Authors: | U. Kohli |
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Abstract: | This paper proposes a consistent estimation method for regression equations with a left-hand variable that is endogenous for some observations, and exogenous for others. This method is applied to the estimation of a demand-for-money function for Switzerland over a time interval which includes periods of monetary control; that is periods when the quantity of money can best be viewed as exogenous. |
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