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Efficient Estimation: The Rao‐Zyskind Condition, Kruskal's Theorem and Ordinary Least Squares*
Author(s) -
McALEER MICHAEL
Publication year - 1992
Publication title -
economic record
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.365
H-Index - 42
eISSN - 1475-4932
pISSN - 0013-0249
DOI - 10.1111/j.1475-4932.1992.tb01750.x
Subject(s) - ordinary least squares , estimator , best linear unbiased prediction , least squares function approximation , mathematics , estimation , mathematical optimization , econometrics , yield (engineering) , generalized least squares , statistics , computer science , economics , artificial intelligence , selection (genetic algorithm) , materials science , management , metallurgy
The paper emphasizes the practicability and accessibility of the necessary and sufficient condition for ordinary least squares to yield best linear unbiased estimators in several problems that are available in econometrics Two convenient equivalent alternative forms of the condition are presented It is shown that the condition is useful for analyzing different problems and is especially relevant for pedagogical purposes Several practical economic examples are presented