{"id":25402,"date":"2021-10-14T13:53:20","date_gmt":"2021-10-14T11:53:20","guid":{"rendered":"https:\/\/cio.umh.es\/?p=25402"},"modified":"2022-01-14T13:55:37","modified_gmt":"2022-01-14T12:55:37","slug":"hernandez-sanjaime-r-gonzalez-m-penalver-a-lopez-espin-j-j-2021-estimating-simultaneous-equation-models-through-an-entropy-based-incremental-variational-bayes-learning-algorithm-entr","status":"publish","type":"post","link":"https:\/\/cio.umh.es\/en\/2021\/10\/14\/hernandez-sanjaime-r-gonzalez-m-penalver-a-lopez-espin-j-j-2021-estimating-simultaneous-equation-models-through-an-entropy-based-incremental-variational-bayes-learning-algorithm-entr\/","title":{"rendered":"Hern\u00e1ndez-Sanjaime, R., Gonz\u00e1lez, M., Pe\u00f1alver, A., L\u00f3pez-Esp\u00edn, J.J. (2021) \u00abEstimating simultaneous equation models through an entropy-based incremental variational bayes learning algorithm\u00bb, Entropy, 23 (4):384"},"content":{"rendered":"<p class=\"AuthorHeader-module__syvlN margin-size-4-t\" style=\"text-align: justify\"><strong>Roc\u00edo Hern\u00e1ndez, Mart\u00edn Gonz\u00e1lez, Antonio Pe\u00f1alver and Jos\u00e9 Juan L\u00f3pez (Center of Operations Research, Miguel Hern\u00e1ndez University, Elche)<\/strong><\/p>\n<p class=\"AuthorHeader-module__syvlN margin-size-4-t\" style=\"text-align: justify\"><strong>Abstract: <\/strong>The presence of unaccounted heterogeneity in simultaneous equation models (SEMs) is frequently problematic in many real-life applications. Under the usual assumption of homogeneity, the model can be seriously misspecified, and it can potentially induce an important bias in the parameter estimates. This paper focuses on SEMs in which data are heterogeneous and tend to form clustering structures in the endogenous-variable dataset. Because the identification of different clusters is not straightforward, a two-step strategy that first forms groups among the endogenous observations and then uses the standard simultaneous equation scheme is provided. Methodologically, the proposed approach is based on a variational Bayes learning algorithm and does not need to be executed for varying numbers of groups in order to identify the one that adequately fits the data. We describe the statistical theory, evaluate the performance of the suggested algorithm by using simulated data, and apply the two-step method to a macroeconomic problem.<\/p>","protected":false},"excerpt":{"rendered":"<p>Roc\u00edo Hern\u00e1ndez, Mart\u00edn Gonz\u00e1lez, Antonio Pe\u00f1alver and Jos\u00e9 Juan L\u00f3pez (Center of Operations Research, Miguel Hern\u00e1ndez University, Elche)<br \/>\nAbstract: The presence of unaccounted heterogeneity in simultaneous equation models (SEMs) is frequently problematic in many real-life applications. Under the usual assumption of homogeneity, the model can be seriously misspecified, and it can potentially induce an important bias [&#8230;]<\/p>","protected":false},"author":5675,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_links_to":"","_links_to_target":""},"categories":[369888],"tags":[],"_links":{"self":[{"href":"https:\/\/cio.umh.es\/en\/wp-json\/wp\/v2\/posts\/25402"}],"collection":[{"href":"https:\/\/cio.umh.es\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cio.umh.es\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cio.umh.es\/en\/wp-json\/wp\/v2\/users\/5675"}],"replies":[{"embeddable":true,"href":"https:\/\/cio.umh.es\/en\/wp-json\/wp\/v2\/comments?post=25402"}],"version-history":[{"count":0,"href":"https:\/\/cio.umh.es\/en\/wp-json\/wp\/v2\/posts\/25402\/revisions"}],"wp:attachment":[{"href":"https:\/\/cio.umh.es\/en\/wp-json\/wp\/v2\/media?parent=25402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cio.umh.es\/en\/wp-json\/wp\/v2\/categories?post=25402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cio.umh.es\/en\/wp-json\/wp\/v2\/tags?post=25402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}