Question: Using the Monte Carlo setup for a two-equation simultaneous model with error component disturbances, given in Baltagi (1984), compare EC2SLS and EC3SLS with the usual

Using the Monte Carlo setup for a two-equation simultaneous model with error component disturbances, given in Baltagi (1984), compare EC2SLS and EC3SLS with the usual 2SLS and 3SLS estimators that ignore the error component structure.

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