order condition violated insufficient instruments

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Selebogo
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Joined: Mon Mar 28, 2016 6:22 am

order condition violated insufficient instruments

Postby Selebogo » Thu Mar 08, 2018 12:06 am

Hi

I am having a problem with Eviews 8 that I am hoping you can help me with, the equation below runs in some eviews files and in others it says "Order condition violated - insufficient instruments.

"equation eq1.gmm(instwgt=tsls) {%Y} c MARKET_PREMIUM SMB HML RMW CMA @ MARKET_PREMIUM SMB HML RMW CMA"

What doesn't make sense is that all the eviews folders are the same with similar data, but the formula runs in some and in others it doesn't run. Your assistance will be highly appreciated

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