The Empirical Content of Models with Multiple Equilibria

We consider a generic environment with (potentially) multiple equilibria and analyze conditions for identification of the structural parameters. We then study conditions that allow for the estimation of both the structural parameters and the â€œselected equilibriumâ€. We focus on a â€œeasy to computeâ€ consistent 2-step estimator and use Monte Carlo methods on a model with social interactions to describe its finite sample properties

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Year of publication:	2006-12-03
Authors:	Bisin, Alberto ; Moro, Andrea ; Topa, Giorgio
Institutions:	Society for Economic Dynamics - SED
Subject:	multiple equilibria \| identification \| structural estimation \| montecarlo simulations

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Extent:	application/pdf
Series:	2006 Meeting Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	The text is part of a series 2006 Meeting Papers Number 660
Classification:	C13 - Estimation ; C21 - Cross-Sectional Models; Spatial Models ; J71 - Discrimination
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005069301