Giesen, Sebastian; Scheufele, Rolf - 2013
the model. We find that FIML performs superior when the model is correctly specified. In cases where some of the model … characteristics are omitted, the performance of FIML is highly unreliable, whereas GMM estimates remain approximately unbiased and … significance tests are mostly reliable. -- FIML ; GMM ; finite sample bias ; misspecification ; Monte Carlo ; DSGE …