On the existence of moments of the partially restricted reduced-form estimators from a simultaneous-equation model

This article proves the existence of all moments of the partially restricted reduced-form estimator. It highlights this estimation method as it appears to be the only reduced-form estimator to possess finite moments, and is thus a valid alternative to restricted reduced-form estimation (where the moments do not exist). The estimation method is described briefly and then the existence proof is formulated, first, for the case of two included endogenous variables in the structural equation and then, we extend the result for any number of included endogenous variables.