Consistent estimation when the left‐hand variable is exogenous over part of the sample period
提出一种回归方程的一致估计方法，适用于左手变量部分观测值内生、部分外生的情况，并应用于瑞士货币需求函数估计，其中包含货币控制时期。
Abstract This paper proposes a consistent estimation method for regression equations with a left‐hand variable that is endogenous for some observations, and exogenous for others. This method is applied to the estimation of a demand‐for‐money function for Switzerland over a time interval which includes periods of monetary control; that is periods when the quantity of money can best be viewed as exogenous.