Wallis, Kenneth F.; Jacobs, Jan P. A. M. - In: Journal of Applied Econometrics 20 (2005) 2, pp. 209-228
The structural vector autoregression (SVAR) and simultaneous equation macroeconometric model (SEM) styles of empirical macroeconomic modelling are compared and contrasted, with reference to two models of the UK economy, namely the long-run structural VAR model of Garratt, Lee, Pesaran and Shin...
