Package 'markets'

Title:	Estimation Methods for Markets in Equilibrium and Disequilibrium
Description:	Provides estimation methods for markets in equilibrium and disequilibrium. Supports the estimation of an equilibrium and four disequilibrium models with both correlated and independent shocks. Also provides post-estimation analysis tools, such as aggregation, marginal effect, and shortage calculations. See Karapanagiotis (2024) <doi:10.18637/jss.v108.i02> for an overview of the functionality and examples. The estimation methods are based on full information maximum likelihood techniques given in Maddala and Nelson (1974) <doi:10.2307/1914215>. They are implemented using the analytic derivative expressions calculated in Karapanagiotis (2020) <doi:10.2139/ssrn.3525622>. Standard errors can be estimated by adjusting for heteroscedasticity or clustering. The equilibrium estimation constitutes a case of a system of linear, simultaneous equations. Instead, the disequilibrium models replace the market-clearing condition with a non-linear, short-side rule and allow for different specifications of price dynamics.
Authors:	Pantelis Karapanagiotis [aut, cre]
Maintainer:	Pantelis Karapanagiotis <[email protected]>
License:	MIT + file LICENSE
Version:	1.1.5
Built:	2025-01-13 05:21:21 UTC
Source:	https://github.com/pi-kappa-devel/markets