Thurman, Walter N.; Fox, Tyler J.; Bingham, Tayler H. - In: The Review of Economics and Statistics 83 (2001) 3, pp. 511-522
Economic effects of public policy alternatives often are analyzed with simulation models. The value of simulation is enhanced when model parameters can credibly be estimated econometrically. But unrestricted estimation can be expected to result in problematic estimates, for example, estimated...