This paper introduces a drifting-parameter asymptotic framework to derive accurate approximations to the finite sample distribution of the principal components (PC) estimator in situations when the factors’ explanatory power does not strongly dominate the explanatory power of the...

We propose an easily implementable test of the validity of a set of theoretical restrictions on the relationship between economic variables, which do not necessarily identify the data generating process. The restrictions can be derived from any model of interactions, allowing censoring and...

We propose a methodology for combining several sources of model and data incompleteness and partial identification, which we call Composition Theorem. We apply this methodology to the construction of confidence regions with partially identified models of general form. The region is obtained by...