In this paper we develop a likelihood based approach for estimating the joint equilibrium parameter distribution in random coefficient-random utility models. Under this demand specification and a profit maximizing supply specification, the equilibrium distribution of prices and quantities has an...

This paper advances a dynamic simultaneous equation panel framework to re-examine the determinants of economic growth in a large cross-country data set. Besides caputring the simultaneity of the potential determinants of economic growth and carefully separating short- from long-run dynamics, the...

Berry, Levinsohn, and Pakes (1995) developed an estimator for an equilibium model of differentiated products markets using aggregate data, without assuming the existence of a representative agent, or imposing prior restrictions on elasticities. Their estimator though, was computationally...

Recent developments in the aggregation of large cross section of linear time series processes provide a complete characterization of the link between the dynamic properties of the aggregate series and the shape and degree of heterogeneity of the coefficients of the micro time series (see Lippi...