Hi,
I have a two-equation system that I solved with
-reg3-. However, when I did the same system "by hand",
the standard errors were completely inflated (they
grew very noticeably) so that almost all of the
explanatory variables were significant. the point
estimates were the same, though.
Any ideas as to why this may happen? Which of the two
ways has the most reliable standard errors?
Note: my system has the following form:
x1=a1 + by1 + by2 + bx2 + e
x2=a2 + bz1 + bz2 + bz3 + e
And I got the weird results only in the second
equation 2. (Note that the dependent variable of the
second equation enters the first equation, but the
dependent variable of the first eq. does not enter the
second eq.)
Thanks for the help.
DC
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