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Structural equation modeling: foundations and extensions

By: Series: Advanced quantitative techniques in the social sciences: NoPublication details: Los Angeles Sage Publications 2009Edition: 2nd edDescription: xi, 255 pISBN:
  • 9781412916240
Subject(s): DDC classification:
  • 300.15118
Summary: The issues of identification, estimation, and statistical inferences of nonstationary time series and simultaneous equation models are reviewed. It is shown that prior information matters and the advantage of dichotomization of the traditional autoregressive distributed lag model into the long-run equilibrium relation and the short-run dynamic adjustment process as an empirical modeling device may be exaggerated. A Japanese money demand study is used to illustrate that a direct approach yields a more stable long-run and short-run relationship and has better predictive power than the approach of letting the data determine the long-run relationship and modeling the short-run dynamics as an adjustment of the deviation from its equilibrium position.
List(s) this item appears in: Structural Equation Modeling
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Books Vikram Sarabhai Library Rack 7-B / Slot 230 (0 Floor, West Wing) General Stacks 300.15118 K2S8 (Browse shelf(Opens below)) Available 166223

The issues of identification, estimation, and statistical inferences of nonstationary time series and simultaneous equation models are reviewed. It is shown that prior information matters and the advantage of dichotomization of the traditional autoregressive distributed lag model into the long-run equilibrium relation and the short-run dynamic adjustment process as an empirical modeling device may be exaggerated. A Japanese money demand study is used to illustrate that a direct approach yields a more stable long-run and short-run relationship and has better predictive power than the approach of letting the data determine the long-run relationship and modeling the short-run dynamics as an adjustment of the deviation from its equilibrium position.

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