This section provides an investigation on the long- and short-run dynamic of real premiums, including real losses, real GDP, and real interest rate as exogenous variables
In Table 3, model closure is described by rendering exogenous variables
As with the House vote, several VECMs are estimated with similar sets of short-run exogenous variables
to test for robustness in a limited sample.
3) The latter two variables, together with the oil price, are regarded as weakly exogenous variables
35) is remarkably high, given the large number of observations (N = 84) and the fact that there is only one exogenous variable
The key is to forecast the next month's average funds rate in a way that uses information from this month's discrete target change--which is precisely what the exogenous variable
Z is designed to do.
The ceteris paribus condition also holds in this case since the other explanatory variables are all exogenous variables
and both export prices were treated as predetermined variables.
In the first stage, instrumented (predicted) values for all endogenous variables are developed by regressing each endogenous variable on all of the exogenous variables
in the system.
First, all past values of the exogenous variable
Although only an informal comparison, the standardized coefficient for the effect of poverty on the physical environment is larger than the coefficient of any exogenous variable
predicting this construct.
The value of an exogenous variable
generally depends upon a decision into which significant noneconomic factors intrude; for example, security and foreign policy considerations substantially influence the level of defense expenditures.
We are not confident that any of these recommendations will be realized in this decade, thus we conclude that, barring a dramatic change in the situation initiated by an exogenous variable
, democratization will not progress in Egypt in this decade.