this paper investigates the relationship between inflation and inflation uncertainty for the period of 1990-2009 by using monthly data in the iranian economy. the results of a two-step procedure such as granger causality test which uses generated variables from the first stage as regressors in the second stage, suggests a positive relation between the mean and the variance of inflation. however...

Description Extended Structural Equation Modelling (SEM). Models may be specified with reticular action model (RAM) matrices or paths,linear structural relations (LISREL) matrices or paths, or directly in matrix algebra. To increase modularity, model expectations,fit functions, and optimizers can be easily interchanged. Fit functions include full information maximum likelihood (FIML),maximum li...

The Fair-Parke program allows all the techniques discussed in this book to be used automatically once the necessary information on a model has been read by the program. The necessary information consists of a few FORTRAN subroutines and a few data sets to present the stochastic equations and the identities. Once the program has this information. almost all the techniques can be used with no fur...

Structural equation models (SEMs) can be estimated using a variety of methods. For complete normally distributed data, two asymptotically efficient estimation methods exist: maximum likelihood (ML) and generalized least squares (GLS). With incomplete normally distributed data, an extension of ML called "full information" ML (FIML), is often the estimation method of choice. An extension of GLS t...

This paper estimates the effects of incumbent spending and challenger spending in U.S. House elections in the 1970s and 1980s. The paper employs FIML simultaneous equations analysis involving instrumental variables as vote predictors, and zero-covariance restrictions for the vote-spending disturbances. This procedure allows the estimation of spending effects given plausible assumptions about th...

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preliminary) We examine the role of changes in health on participation decisions of elderly in Mexico using the Mexican Health and Aging Study (2001-2003). A simultaneous equations model accounts for potential endogeneity of health. Preliminary results with a two-stage estimation method suggest that a better health causes a stronger attachment to the labor market, and finds no evidence that emp...

We propose a framework to handle lack of fit problems in structural equation models by analyzing misspecified moments. This framework allows to relate misspecification of the moment equations to biases of parameter estimates and non-centrality of the model. Misspecification of a single moment is shown to lead to misfit of all moments as well as biases in most parameter estimates in full informa...