RECURSIVE VS. NONRECURSIVE SYSTEMS: AN ATTEMPT AT SYNTHESIS (PART I OF A TRIPTYCH ON CAUSAL CHAIN SYSTEMS)
@article{Strotz1960RECURSIVEVN, title={RECURSIVE VS. NONRECURSIVE SYSTEMS: AN ATTEMPT AT SYNTHESIS (PART I OF A TRIPTYCH ON CAUSAL CHAIN SYSTEMS)}, author={Robert H. Strotz and Atle L. Wold}, journal={Econometrica}, year={1960}, volume={28}, pages={417} }
This paper, which in part serves as a common introduction to the two papers following in this issue, attempts to define the meaning of the "causal interpretability of a parameter" in a system of simultaneous linear relationships. It attempts, moreover, to expound a basis for interpreting the parameters of a nonrecursive or interdependent system causally. This is done in terms of an underlying causal chain system to which the interdependent system is either an approximation or a description of…
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Discussion on Professor Wold's Paper
- Journal of the Royal Statistical Society, Series A