Abstract
The approach to dynamic modeling with latent variables has been developed on the base of H. Wold’s partial least squares (PLS). The original PLS estimation algorithm is virtually applicable. In addition to that lagged and leaded latent variables are used in the iterative process of estimating the weights of the manifest variables. The path coefficients are estimated by OLS. A redundancy coefficient allows to measure the forecasting validity. Finally the algorithm has been programmed in XploRe .
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Bibliography
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Geppert, F., Strohe, H.G. (2000). DPLS—Partial Least Squares Program for Dynamic Path Models. In: XploRe® — Application Guide. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-57292-0_11
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DOI: https://doi.org/10.1007/978-3-642-57292-0_11
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-67545-7
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