The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Apr, 1969, Volume 37, Issue 2
https://doi.org/0012-9682(196904)37:2<171:EOISIM>2.0.CO;2-L
p. 171-192
L. R. Klein
Full information maximum likelihood estimates of an up-dated and extended version of the Klein-Goldberger Model have been completed. These supersede some earlier estimates that made simplifying approximations and dealt only with linear equations. Simulation and ex post prediction tests are made for comparison among full information maximum likelihood, two stage least squares (using principal components of predetermined variables), and ordinary least squares estimates of the same model. The relative performance of different methods varies depending on whether the simulations are one period (re-setting of lagged dependent variables every period) or dynamic (solution from fixed initial conditions). Also, the test performance varies with the number of principal components used, the best number not necessarily being large relative to the number of predetermined variables.
March 5, 2024
The terms of the Editors of the Econometric Society's three journals end June 30, 2025. We are pleased to announce the incoming Editors and to thank the outgoing Editors for their excellent and continuing service.
Econometrica: Since 2019, Guido Imbens has served as the 14th Editor of Econometrica. On July 1, 2025, Marina Halac will become the Editor.
Quantitative Economics: Stéphane Bonhomme has been the Editor of Quantitative Economics since 2021. His successor will be Bernard Salanié.
Theoretical Economics: The Editor of Theoretical Economics since 2021 has been Simon Board. Taking over for him in July 2025 will be Federico Echenique.
Guido, Stéphane, and Simon have been outstanding Editors. We are grateful to them for the work they have done and will continue to do, and we look forward to further congratulating them next year. We believe Marina, Bernard, and Federico will be outstanding successors and we thank them in advance for their service.
Finally, we are grateful to Larry Samuelson for chairing all three search committees, and we thank the search committee members for their hard and fruitful work:
Econometrica: Christian Dustmann, Lars Hansen, Alessandro Lizzeri, George Mailath, Ariel Pakes, Helene Rey, and Elie Tamer.
QE: Kate Ho, Michael Keane, Felix Kubler, Whitney Newey, and Frank Schorfheide.
TE: Jeff Ely, Johannes Horner, Gilat Levy, Meg Meyer, and Ran Spiegler.
