The difference between the modeling system GAMS is that I can estimate the whole problem without thinking of the linear dependence problem with econometric system of equations estimations. However, I do not see how I could do the analysis without adding to external information like Frisch into the econometric model. All this I can get with GAMS in one model. For the interested persons, I attach the GAMS code (it is an amended version of a code I found in GAMS webpage).
This method uses the shortest syntax and initializes all the parameters to zero, which is the default: nlsur sur @ y1 y2 x1 x2 x3, nparameters(6) nequations(2)
Thanks Kazi. However, it seems I will opt for SUREG procedure anyway. However, this leaves me to figure out n parameters of n equations, which I can solve in GAMS. I was hoping for to find a more elegant solution, but I cannot figure it out.
Please find attached the final GAMS piece where we figure out the final LES consumption parameters out of the econometric results.
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