Dynamic Structural Models: Problems and Prospects. Mixed Continuous Discrete Controls and Market Interactions

Ariel Pakes

No 984, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: This paper reviews dynamic structural econometric models with both continuous and discrete controls, and those with market interactions. Its goal is to highlight techniques which enable researchers to obtain estimates of the parameters of models with these characteristics, and then use the estimates in subsequent descriptive and policy analysis. In an attempt to increase the accessibility of structural modeling, emphasis has been laid on estimation techniques which, though consistent with the underlying structural model, are computationally simple. The extent to which this is possible depends on the characteristics of the applied problem of interest, so the paper ends up covering more than one topic.

Keywords: Dynamic model; structural model (search for similar items in EconPapers)
JEL-codes: C31 C51 C52 (search for similar items in EconPapers)
Pages: 129 pages
Date: 1991-07
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Citations: View citations in EconPapers (32)

Published in J.J. Laffont and C. Sims (eds.), Advances in Econometrics: Proceedings of the 6th World Congress of the Econometric Society, 1994, Ch. 5, pp. 171-259

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