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Working Paper 1984-017A

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"What do Almon's Endpoint Constraints Constrain?"
by Daniel L. Thornton, and Dallas S. Batten

In this paper we show that Almon's (1965) endpoint constraints do not constrain the endpoints, as commonly thought. In particular, the endpoints are not constrained to equal zero. Consequently, these constraints have neither a basis in economic theory nor the econometric justification frequently ascribed to them.

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Category > Applied Econometrics
Author > Daniel L. Thornton