Qian, Hailong; Schmidt, Peter - In: Econometric Reviews 16 (1997) 4, pp. 441-457
In this paper we show that the 3SLS estimator of a system of equations is asymptotically equivalent to an iterative 2SLS estimator applied to each equation, augmented with the residuals from the other equations. This result is a natural extension of Telser (1964).