markets (version 1.1.6)

market_fit-class: Market model fit

Description

This is the estimation output class for all market models of the package. It couples a market model object with estimation results. It provides a common user interface for accessing estimation results, irrespective of the underlying market model used. The estimation results are intended to be accessed by passing market_fit objects to methods such as plot, summary, and logLik.

Slots

model

The underlying market model object.

fit

A list holding estimation outputs.

Details

The market_fit class composes the market_models class with the estimation results obtained by optim, lm or GSL. All the public functionality of the underlying market model is also directly accessible from the output class.

Furthermore, the class is responsible for harmonizing the heterogeneous outputs resulting from different estimation methods of market models. For example, a 2SLS estimation of the equilibrium_model returns a list of linear regression models (the first stage, demand, and supply models), while the maximum likelihood estimation of diseq_basic returns an optim list. In both cases, the market_fit stores the estimation output in the member fit of type list and produces additional harmonized list elements. Methods of the class examine the type of the fit and direct execution accordingly to different branches to produce a unified experience for the caller.

See Also

market_models

Examples

# estimate an equilibrium  model using the houses dataset
fit <- equilibrium_model(
  HS | RM | ID | TREND ~
    RM + TREND + W + CSHS + L1RM + L2RM + MONTH |
      RM + TREND + W + L1RM + MA6DSF + MA3DHF + MONTH,
  fair_houses(),
  estimation_options = list(method = "2SLS")
)

# access an method of the underlying model
aggregate_demand(fit)

# summary of results
summary(fit)