Abstract
This paper aims to settle the issue of identifying the causal or interdependent nature of econometric models by shedding light on the analogy linking the so-called reduced form of structural models and the secondary form of closed-loop systems. This turns out to pave the way to unfold the latent feedback mechanism possibly hidden in the reduced form of an econometric relationship taken out of a simultaneous equation model, and eventually leads to set up a diagnostic framework and an effective toolkit for causal structure analysis.
| Translated title of the contribution | [Autom. eng. transl.] On the causal structure of econometric models: a systematic review of the problem |
|---|---|
| Original language | Italian |
| Pages (from-to) | 131-142 |
| Number of pages | 12 |
| Journal | Rivista Internazionale di Scienze Sociali |
| Publication status | Published - 1999 |
| Externally published | Yes |
Keywords
- Economtrics Models
- causality and interdependence
- systems with feedback