In this paper we will study topological properties of the class of proper and improperp×m transfer functions of a fixed McMillan degreen. A natural generalization of this class is all autoregressive systems of degreen under external system equivalence. The subset of irreducible systems has in a natural way the structure of a manifold and we show how to extend this topology to the set of all autoregressive systems of degree at mostn. We will describe the subset of systems with fixed Kronecker indicesv=(v1,...,v p ) as an orbit space, which will enable us to calculate the topological dimension for each collection of indicesv. Finally, we will describe the topological closure of those sets in the space of all autoregressive systems.