“…(A solution to the case of either over-identified models or models with more than just exclusion restrictions can be found in other studies, as well. However, they treat in general, special cases which concern the structure of their model - Blanchard andQuah, 1989 andKeating, 1990). Giannini (1992), following the seminal work of Rothenberg (1971), has derived conditions for the 'local' identification of the structural parameters and provided algorithms for their FIML estimation.…”