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What do Almon's endpoint constraints constrain?

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.
Year of publication:
1984
Authors: Thornton, Daniel L. ; Batten, Dallas S.
Institutions: Federal Reserve Bank of St. Louis
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Extent:
application/pdf
Series:
Type of publication: Book / Working Paper
Language: English
Notes:
Number 1984-017
Source:
Persistent link: https://www.econbiz.de/10005352867
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