Working Paper

What do Almon's endpoint constraints constrain?


Abstract: 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.

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File(s): File format is application/pdf http://research.stlouisfed.org/wp/1984/1984-017.pdf

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Bibliographic Information

Provider: Federal Reserve Bank of St. Louis

Part of Series: Working Papers

Publication Date: 1984

Number: 1984-017