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- W3122415245 abstract "I reveal identification failures in a well-known dynamic stochastic general equilibrium (DSGE) model, and study the statistical implications of common identifying restrictions. First, I provide a fully analytical methodology for determining all observationally equivalent values of the structural parameters in any parameter space. I show that either parameter admissibility or sign restrictions may yield global identification for some parameter realizations, but not for others. Second, I derive a plug-in maximum likelihood estimator, which requires no numerical search. I use this tool to demonstrate that the idiosyncratic identifying restriction directly impinges on both the location and distribution of the small-sample MLE, and compute correctly sized confidence intervals." @default.
- W3122415245 created "2021-02-01" @default.
- W3122415245 creator A5004918174 @default.
- W3122415245 date "2014-01-01" @default.
- W3122415245 modified "2023-09-23" @default.
- W3122415245 title "The Statistical Implications of Common Identifying Restrictions for DSGE Models" @default.
- W3122415245 hasPublicationYear "2014" @default.
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