Sarno, Lucio; Thornton, Daniel L. - Federal Reserve Bank of St. Louis - 2003
, Cowles
Commission.
Lucio Sarno is a professor of finance, Finance Group, Warwick Business School,
University of Warwick, and … for Research in Economics. For a summary of this
methodology see Koopmans (1949). For an early application of it, see … of Herman Wold, who advocated the theoretical
desirability of recursive models in economics, e.g., Wold (1954). In the …