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The Empirical Content of Models with Multiple Equilibria

Bisin, Alberto; Moro, Andrea; Topa, Giorgio - Society for Economic Dynamics - SED - 2006

We consider a generic environment with (potentially) multiple equilibria and analyze conditions for identification of …

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

Identification and Estimation in Sequential Dutch Auctions

Paarsch, Harry J.; Brendstrup, Bjarne - Society for Economic Dynamics - SED - 2004

, and employing the notion of Bayes-Nash equilibrium, we demonstrate nonparametric identification of the data …

Persistent link: https://www.econbiz.de/10005069506

Effects of monetary policy regime changes in the Euro Economy

Zha, Tao; Rubio, Juan; Waggoner, Daniel - Society for Economic Dynamics - SED - 2004

There prevails a view that the monetary policy in the Euro area has changed, especially after the European Monetary System (EMS) came into operation in 1979. The goal of this paper is to quantify (1) the extent to which policy regime has changed and (2) the counterfactual effects of such regimes...

Persistent link: https://www.econbiz.de/10005069588

On the Indeterminacy of New Keynesian Economics

Farmer, Roger E. A.; Beyer, Andreas - Society for Economic Dynamics - SED - 2004

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 …

Persistent link: https://www.econbiz.de/10005027279