Multicollinearity in empirical data violates the assumption of independence among the explanatory variables in a linear regression model and by inflating the standard error of estimates of the estimated regression coefficients leads to failure in rejecting a false null hypothesis of...

The Two-Stage Least squares method for obtaining the estimated structural coefficients of a simultaneous linear equations model is a celebrated method that uses OLS at the first stage for estimating the reduced form coefficients and obtaining the expected values in the arrays of current...