Dear Stata users,
I am planning to use a 3SLS simultaneous equation model, and I have read that R-squared is not a good indicator here. What kind of goodness of fit test can I use? In my preliminary models, I see I get a Chi2 coefficient, what is the test actually measuring here? what is the null hypothesis and, therefore, do I need a significant or not significant coefficient to prove that the model is good?
Thanks in advance!!
Alfredo
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