Title

An Approximation Theorem for the Polynomial Inverse Lag

Abstract

The polynomial inverse lag (PIL) of Mitchell and Speaker (1986) is a flexible distributed lag technique which is easy to estimate, because it requires only a brief nested search for the polynomial degree and estimation is otherwise linear. This paper presents an approximation theorem for the PIL, showing that a PIL of sufficient degree can arbitrarily closely approximate any absolutely summable sequence of true lag weights, with distance measured by the L1 metric.

Department(s)

Economics

International Standard Serial Number (ISSN)

0165-1765

Document Type

Article - Journal

Document Version

Citation

File Type

text

Language(s)

English

Rights

© 1989 Elsevier B.V., All rights reserved.

Publication Date

01 Aug 1989

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