Learning About Identification

Kenneth Kasa and Inkoo Cho

No 762, 2009 Meeting Papers from Society for Economic Dynamics

Abstract: multiple stable self-confirming equilibria. As an application, we examine the problem of distinguishing between Classical and Keynesian directions of fit in the Phillips Curve (Sargent [199] and King and Watson [1994]), and claim that that the Classical direction of fit is more robust to experimentation, and is eventually selected by our method almost surely.

Date: 2009
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