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Last seen on: Newsday.com Crossword – Jun 5 2020
Random information on the term “SURE”:
In econometrics, the seemingly unrelated regressions (SUR):306:279:332 or seemingly unrelated regression equations (SURE):2 model, proposed by Arnold Zellner in (1962), is a generalization of a linear regression model that consists of several regression equations, each having its own dependent variable and potentially different sets of exogenous explanatory variables. Each equation is a valid linear regression on its own and can be estimated separately, which is why the system is called seemingly unrelated,:332 although some authors suggest that the term seemingly related would be more appropriate,:306 since the error terms are assumed to be correlated across the equations.
The model can be estimated equation-by-equation using standard ordinary least squares (OLS). Such estimates are consistent, however generally not as efficient as the SUR method, which amounts to feasible generalized least squares with a specific form of the variance-covariance matrix. Two important cases when SUR is in fact equivalent to OLS are when the error terms are in fact uncorrelated between the equations (so that they are truly unrelated) and when each equation contains exactly the same set of regressors on the right-hand-side.