Estimation of Parameters in Econometric Models From Grouped Data When Group Errors are Correlated
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Date
1988
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Chaudhary Charan Singh Haryana Agricultural Univesity, Hisar
Abstract
In natural as well as in social sciences, one is faced with the problem of explaining complex phenomenon of interplay of several variables. The data so generated are uncontrolled. The art Of analyzing such data by regression analysis warrants the use of modified procedures as compared to ordinary least squares method because of the non-fulfillment of the assumptions of Gauss-Markoff theorem. The choice of the procedure
depends upon the nature of population, interactions of variables, assumptions on the error structure information on the parameters, form of the model and availability of the data. Thus, any econometric study needs not only data but also appropriate statistical technique as an essential ingredient for drawing valid inferences.
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Statistics