An Econometric Model of the US Economy by John J. Heim

Author:John J. Heim
Language: eng
Format: epub
Publisher: Springer International Publishing, Cham

Model 5.8.TR 2SLS Estimates of Determinants of Business Borrowing – Time Period Robust Model

(5.8.TR)

5.8.2.3 Robustness to Model Specification Changes

Deleting the last two variables from the model (5.8.TR) and re-estimating yields the following results:

Model 5.8.TR.a 2SLS Estimates of Determinants of Business Borrowing – Time Period Robust Model (Two Variables Deleted)

(5.8.TR.a)

Here, deletion of these variables resulted in no major changes in both coefficient values and significance levels.

Finally, let us add the money supply and depreciation variables to the full model time period robust model given in Eq. 5.8. The new model results are

Model 5.8.TR.b 2SLS Estimates of Determinants of Business Borrowing – Time Period Robust Model (Two Variables Added)

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