The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Sep, 1983, Volume 51, Issue 5
https://doi.org/0012-9682(198309)51:5<1527:IILSEM>2.0.CO;2-2
p. 1527-1550
Jerry A. Hausman, William E. Taylor
Necessary and sufficient conditions for identification with linear coefficient and covariance restrictions are developed in a limited information context. For the limited information case, covariance restrictions aid identification if and only if they imply that a set of endogenous variables is predetermined in the equation of interest (generalizing the idea of recursiveness). Under full information, covariance restrictions imply that residuals from other equations are predetermined in a particular equation and, under certain conditions, can aid in identification. Sufficient conditions for identification are obtained for the hierarchical system in which the identification of a particular equation does not depend upon the identifiability of higher-numbered equations. In the general case, the FIML first order conditions show that if the system of equations is identifiable as a whole, covariance restrictions cause residuals to behave as instruments. In both limited and full information settings, the link between identification and estimation is worked out: restrictions useful for identification yield instruments required for estimation.
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.
