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- W2029366192 abstract "Full- and limited-information identification-robust methods are proposed for structural systems, notably DSGE models, which are valid whether identification is weak or strong, theory-intrinsic or data-specific. The proposed methods are applied to a standard New Keynesian system for the U.S. Single- and multi-equation estimation and fit are also compared. When a unique rational-expectation stable equilibrium is imposed, the model is rejected. In contrast, limited-information inference produces informative results regarding forward-looking behavior in the NKPC and precise conclusions on feedback coefficients in the reaction function, which cannot be reached via single-equation methods." @default.
- W2029366192 created "2016-06-24" @default.
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- W2029366192 date "2013-04-01" @default.
- W2029366192 modified "2023-10-18" @default.
- W2029366192 title "Identification-robust analysis of DSGE and structural macroeconomic models" @default.
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- W2029366192 doi "https://doi.org/10.1016/j.jmoneco.2013.02.001" @default.
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