伍德里奇计量经济学第六版答案Chapter-16.pdfVIP

CHAPTER 16 TEACHING NOTES I spend some time in Section 16.1 trying to distinguish between good and inappropriate uses of SEMs. Naturally, this is partly determined by my taste, and many applications fall into a gray area. But students who are going to learn about SEMS should know that just because two (or more) variables are jointly determined does not mean that it is appropriate to specify and estimate an SEM. I have seen many bad applications of SEMs where no equation in the system can stand on its own with an interesting ceteris paribus