We investigate a simple nonlinear model of economics to which strong multiplicative noise is added, and find two … distinct generic control regimes. In the regime of noisy behavior, the application of the control is able to reduce noise only … point relative to the noise-free control point is observed, scaling linearly with the noise strength. The best control …

We study identification in a class of linear rational expectations models. For any given exactly identified model, we …

observational equivalence, partial and weak identification problems are widespread, that they lead to biased estimates, unreliable t … identification and study how small samples interact with parameters and shock identification. We provide diagnostics and tests to … detect identification failures and apply them to a state-of-the-art model …

We study identification in a class of three-equation monetary models. We argue that these models are typically not … the same reduced form. We use our algorithm to provide four examples of the consequences of lack of identification. In our …