Andrade, Philippe; Ferroni, Filippo; Melosi, Leonardo - 2023 - First draft (June 2022)
identification. We show that these constraints can be treated as necessary conditions and used to shrink the set of admissible … in the Euro Area. In both cases, using higher-moment restrictions significantly sharpens identification. After a shock to …We exploit inequality restrictions on higher-order moments of the distribution of structural shocks to sharpen their …