Swamy, Paravastu A. V. B.; Mehta, Jatinder S.; Chang, I-Lok - In: Econometrics : open access journal 5 (2017) 1, pp. 1-17
Using the net effect of all relevant regressors omitted from a model to form its error term is incorrect because the coefficients and error term of such a model are non-unique. Non-unique coefficients cannot possess consistent estimators. Uniqueness can be achieved if; instead; one uses certain...