This paper extends the single equation regression model with the truncated dependent variable considered by Tobin [10] and Amemiya [1] to multivariate and simultaneous equation models and proposes a ...

Simultaneous equations like 𝒚 = 2𝒙 - 1 and 𝒚 = 𝒙 + 1 can be represented graphically. To solve the equations graphically, the two lines 𝒚 = 𝒙 + 1 and 𝒚 = 2𝒙 - 1 are drawn on the same diagram.

This is a preview. Log in through your library . Journal Information The International Economic Review was established in 1960 by two of the most active and acclaimed scholars in the economics ...