Strong consistency of least squares estimators of the slope parameter in simple linear regression models is established for predetermined stochastic regressors. The main result covers a class of models which falls outside the applicability of what is presently available in the literature. An application to the identification of economic models with adaptive learning is discussed.
# 12-109/III (2012-10-12)
- Norbert Christopeit, University of Bonn; Michael Massmann, VU University Amsterdam
- linear regression, least-squares, consistency, stochastic regressors, adaptive learning, decreasing gain
- JEL codes:
- C13, C22, D83, D84