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    Spurious structural stability

    Smith, Ron P. (1991) Spurious structural stability. The Manchester School of Economic & Social Studies 59 (4), pp. 419-423.

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    Abstract

    It is well known that the omission of variables from a model with constant parameters can induce the appearance of structural instability if the correlation between the included and omitted variables should change. What is less appreciated is that the converse is also true. The omission of variables from a model with changing parameters can induce the appearance of structural stability. This note provides an example and discusses the circumstances under which the phenomenon is likely.

    Metadata

    Item Type: Article
    School: Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School
    Depositing User: Sarah Hall
    Date Deposited: 10 Nov 2020 17:21
    Last Modified: 02 Aug 2023 18:05
    URI: https://eprints.bbk.ac.uk/id/eprint/41401

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