A Comparative Study of the Classical and Bayesian Methods of Estimating a Just-Identified Simultaneous Equations Econometric Model

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dc.contributor.authorOkewole, Dorcas Modupe
dc.date.accessioned2022-03-01T09:19:35Z
dc.date.available2022-03-01T09:19:35Z
dc.date.issued2011-05
dc.description.abstractA just identified two-equation econometric model is simulated using both Classical and Bayesian procedures. The estimates of the parameters for both methods were compared under a wide range of scenarios; sample size, residual variance and variance of the data on the predetermined variable. The Monte Carlo experiment was performed using E-veiws and WinBUGS computer softwares. The median, being a robust estimator of average in terms of validity, was used as the posterior estimate. As indicated in similar research in the past where the posterior mode was used as estimate, the Bayesian procedure performed better in most cases, while some scenarios showed similar behavior for the two procedures.en_US
dc.identifier.urihttp://dspace.run.edu.ng:8080/jspui/handle/123456789/1508
dc.language.isoenen_US
dc.publisherAsian Social Scienceen_US
dc.relation.ispartofseriesVolume 7 Number 5;
dc.subjectBayesian proceduresen_US
dc.subjectClassical proceduresen_US
dc.subjectSimultaneous equationsen_US
dc.subjectJust-identified modelen_US
dc.subjectMonte-Carloen_US
dc.subjectSimulationen_US
dc.subjectEstimatesen_US
dc.titleA Comparative Study of the Classical and Bayesian Methods of Estimating a Just-Identified Simultaneous Equations Econometric Modelen_US
dc.typeArticleen_US
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