A set of related papers dealing with the meaning of causality in simulataneous dynamic equation systems. Investigation of the systems which only approximately satisfy the conditions enabling the definition of causality, leads to a set of limiting theorems concerning the dynamic behavior of such systems over time, and estimation procedures for the parameters of such systems. Implications of these theorems for some well-known propositions in economics and other social sciences are considered.

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Albert Ando is Professor of Economics and Finance at the University of Pennsylvania.

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