Dear Stata users,

I am currently running the nlsur command to estimate a system of 2 equations using the following syntax:

Code:
nlsur (c_fsinc = {a0} + {a1}*c_stacc + {a2}*c_stocf)(c_sizeret = {beta1}*(c_fsinc -{a0s}-{a1s}*c_stacc - {a2s}*c_stocf)), vce(cluster time)
The equation (1) is the forecasting equation: c_fsinc = {a0} + {a1}*c_stacc + {a2}*c_stocf
The equation (2) is the pricing equation: c_sizeret = {beta1}*(c_fsinc -{a0s}-{a1s}*c_stacc - {a2s}*c_stocf

and this is what I got:

Code:
Calculating NLS estimates...
could not evaluate equation 1
starting values invalid or some RHS variables have missing values
r(480);
I am new to Stata and I am not sure how to fix this error. As I knew that Stata excludes missing values when regressing, so I guess there might be something to do with the initial values.

I am not sure about how to proceed from here. Any help and suggestion will be very much appreciated.

Sincerely yours,

Khanh

This is the data generated by -dataex-:

Code:
* Example generated by -dataex-. To install: ssc install dataex
clear
input int(unit_id time) float(c_fsinc c_stacc c_stocf c_sizeret)
1 2000   11.095           .   44.008   3.044987
1 2001    5.583   -.0874317    5.224  -.1652283
1 2002    3.861   .29353163  -42.801  -.4231709
1 2003   -4.064  -.15650004  10.2003 -.54456735
1 2004  -13.577   .02961883   -8.937 -.29095754
1 2005    .6989  -.27193496    7.805   3.436494
1 2006  -9.2673  -.14769301   4.6517   3.818903
1 2007 -11.1224  -.14354037  -8.7062   5.257833
1 2008   2.4688   -.0722658  -1.1474  3.1859944
1 2009  11.6241   -.1986534  45.4037   1.705382
1 2010   2.9899   .11853852 -11.8675   .1003933
1 2011   2.0053  -.05195754  19.3657  -.4316798
1 2012  -1.0334   .16627726  17.5627 -.09248185
1 2013   3.8014   .02308112 -21.0423   .3205987
1 2014   1.2471   .09067812  -5.5341  .23287398
1 2015  39.2993  .003675696   9.4619    1.84437
1 2016   8.5667   -.2839655  140.423 -.12539318
1 2017        .  -.12699409  14.4395  -.6051657
2 2000 -124.622   .20785487   9.1339  1.8036478
2 2001   -10.71   -.3467585  -5.3689  -.8658409
2 2002     .987    .0822746     .317  -.3857885
2 2003   38.588     .019928   15.924 -.29408288
2 2004   -5.266    .4997058   -9.562  .10540456
2 2005  -1.7561  -.24746884     14.5  3.3120015
2 2006   1.6822   .10150523   6.1509   3.854261
2 2007     .748  -.15123634  12.9634     5.8056
2 2008    .3135   .08393575   1.4254   3.184806
2 2009    .8889  .034479022   4.1066   5.606124
2 2010  33.9895  -.14203873    -.385  -.1284118
2 2011   39.129  -.25330418  103.386 -.04299143
2 2012   22.758  -.04573207  86.7555   3.895035
2 2013   7.7678  -.02250768  66.8851    .845217
2 2014  185.671  -.08318695  69.7514   5.885801
2 2015  521.866    .3290931 -62.7312   7.409277
2 2016  873.781   .18091014 -39.1415   4.887175
2 2017        .    .1497909 -15.7663   4.142799
3 2000  26.6242  -.20521878  -33.397   5.215007
3 2001  13.5809  -.05240782  240.861   4.782817
3 2002    12.91   .04881822   14.756   5.120404
3 2003   16.844   .04537622  -39.653   4.996433
3 2004  71.8039  -.05788913   43.242   4.856194
3 2005  135.634   -.0755362  429.297  4.0577707
3 2006  230.389  -.06104685  129.678    5.03461
3 2007  200.381   .05176217  -232.24   7.855485
3 2008   253.46   .04361181  554.182  3.6344376
3 2009  325.476  -.04361504  515.166   6.992318
3 2010  269.923    .1736856 -654.929    5.62332
3 2011  160.461    .1279638 -1120.65  4.7459702
3 2012    292.4  .014459985 -72.1783   4.903387
3 2013  303.325 -.005289631 -299.214   5.330762
3 2014  750.495 .0012534356  170.046   6.734075
3 2015  233.384    .1027608 -383.128   5.482848
3 2016  133.204   .12325507 -388.045   4.874717
3 2017        .   .01924204 -160.627   4.081945
4 2000    1.755           .  -28.226   .7562572
4 2001   12.143           .   22.629  -.3611049
4 2002    7.031  .021934465   50.347   3.599008
4 2003  -14.997    .1994297 -157.781   3.511429
4 2004 -81.2912   -.1859179  -14.998  3.6600254
4 2005   4.1603   -.2982836   3.5313     3.4637
4 2006 -28.8689   .16106696   3.8836  1.0714513
4 2007  15.8154  -.15661116  22.3851  2.0610507
4 2008   7.3919  .070336886   3.6043  -.7715604
4 2009  -1.0431  .001318937  12.0977   1.194843
4 2010   5.0148  .011088284 -10.3319  .12995148
4 2011  37.8202  .016581232   5.0777  .16719593
4 2012   3.1401   .22159834  -8.2186   1.892415
4 2013 -74.5532  .031706214    .7513   3.841636
4 2014  33.4436   -.0662543 -118.064  1.5790174
4 2015  39.8771    .3191679 -410.522  2.3134086
4 2016 -1061.43   .05887472 -182.278    1.70993
4 2017        .   .04516191   513.08   3.060521
5 2000  153.207   -.4568579  292.581   7.921634
5 2001  162.802  -.04799785  308.812   3.682178
5 2002  202.632  -.04271837  285.899   2.334574
5 2003  337.806  -.04614428   395.42   2.427877
5 2004  316.411  -.05078634  532.241  4.3948708
5 2005  332.112  -.04960303  532.241   3.995865
5 2006  431.485  -.18311357  665.837   6.477026
5 2007   420.08   .04067595  906.812  3.5393586
5 2008  831.944  -.07130431  800.488  2.0022154
5 2009  1455.21   -.0417543  1502.44   5.509697
5 2010  1178.23  -.02768715  2229.47   4.916965
5 2011  274.746  -.05705725  1461.88   2.061875
5 2012  1535.93  -.04438705  1444.83  4.1144814
5 2013  873.653  -.02075426  1456.53  2.5898175
5 2014  532.653  -.06572313  1196.18   .9744867
5 2015  797.722  -.04347397  1096.23  3.1049085
5 2016  825.388  -.03354574  1956.05  2.4525535
5 2017        .  -.07137262  2115.06   2.308459
6 2000 -707.018     .358442  229.842   .9246945
6 2001   43.123  -.29042542  1805.72  .42337635
6 2002  101.071  -.06911801  963.539    .701834
6 2003  142.549   .18138306  345.782   .8659249
6 2004   19.552   .08003017 -354.695   .6883366
6 2005  96.7749  -.05598192  -81.535   .5126982
6 2006  207.092   .06734498  178.829  1.0426645
6 2007   267.68  -.05472161 -25.5691  2.0497851
6 2008  151.671  -.08230114  277.008   .5703058
6 2009  83.9479 -.017399611  263.371  2.3021162
end