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st: RE: Re: reg3 command and first-stage estimations


From   "Mentzakis, Emmanouil" <e.mentzakis@abdn.ac.uk>
To   <statalist@hsphsun2.harvard.edu>
Subject   st: RE: Re: reg3 command and first-stage estimations
Date   Wed, 5 Sep 2007 19:25:36 +0100

"...why in the first-stage regressions when using -reg3- command, the
instruments (capital1 and invest) are used to estimate the dependent
variable (consump)."

I think this happens because in -reg3- all dependent variables are
explicitly taken to be endogenous to the system and are treated as
correlated with the disturbances in the system's equations. So every
endogenous variable has to be instrumented. 

Check the help -reg3- file

Cheers
Manos



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