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 "casual 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 casually. This is done in terms of an underlying causal chain system to which the interdependent system is either an approximation or a description of the equilibrium state.
MLA
Wold, H. O. A., and Robert H. Strotz. “Recursive vs. Nonrecursive Systems: An Attempt at Synthesis (Part I of a Triptych on Causal Chain Systems).” Econometrica, vol. 28, .no 2, Econometric Society, 1960, pp. 417-427, https://www.jstor.org/stable/1907733
Chicago
Wold, H. O. A., and Robert H. Strotz. “Recursive vs. Nonrecursive Systems: An Attempt at Synthesis (Part I of a Triptych on Causal Chain Systems).” Econometrica, 28, .no 2, (Econometric Society: 1960), 417-427. https://www.jstor.org/stable/1907733
APA
Wold, H. O. A., & Strotz, R. H. (1960). Recursive vs. Nonrecursive Systems: An Attempt at Synthesis (Part I of a Triptych on Causal Chain Systems). Econometrica, 28(2), 417-427. https://www.jstor.org/stable/1907733
We are deeply saddened by the passing of Kate Ho, the John L. Weinberg Professor of Economics and Business Policy at Princeton University and a Fellow of the Econometric Society. Kate was a brilliant IO economist and scholar whose impact on the profession will resonate for many years to come.
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