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We experimentally study how people form predictive models of simple data generating processes (DGPs), by showing subjects data sets and asking them to predict future outputs. We find that subjects: (i) often fail to predict in this task, indicating a failure to form a model, (ii) often cannot...
Persistent link: https://www.econbiz.de/10014536981
inference in these models. Specifically, we consider a local misspecification framework in which specification errors are …
Persistent link: https://www.econbiz.de/10012215367
identification inference moment conditions robust singular variance subvector test test weak identification weak instruments C10 C12 …
Persistent link: https://www.econbiz.de/10012215408
Persistent link: https://www.econbiz.de/10011599639
This paper considers inference in log-linearized dynamic stochastic general equilibrium (DSGE) models with weakly …
Persistent link: https://www.econbiz.de/10011599662
We consider the problem of inference on a class of sets describing a collection of admissible models as solutions to a … parameters, making them especially appealing in the target applications. We show that the resulting inference procedures are more …
Persistent link: https://www.econbiz.de/10011599678
misspecification. However, degeneracy of RV invalidates inference. With a novel definition of weak instruments for testing, we connect …
Persistent link: https://www.econbiz.de/10015420298