Estimation and Identification of Structural Parameters in the Presence of Multiple Equilibria

Russell Cooper ()
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Russell Cooper: Department of Economics, University of Texas at Austin

Eastern Economic Journal, 2005, vol. 31, issue 1, 107-130

Abstract: This paper studies quantitative implications of model economies that exhibit multiple equilibria. The goal is to assess two interrelated issues. First, do economies with multiple equilibria have falsifiable predictions? Second, is the identification of structural parameters possible in economies that exhibit multiple equilibria? We raise these questions within a general framework and then study a series of examples to determine how the existing literature has addressed them. These examples illustrate cases in which parameters can be identified and models falsified.

JEL-codes: E22 E32 E44 N12 (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eej:eeconj:v:31:y:2005:i:1:p:107-130

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