Identification and mis-specification issues in forward-looking models

  • Sophocles Mavroeidis
  • Published 2002

Abstract

Limited-information methods are commonly used to estimate forward-looking models with rational expectations, such as the “New Keynesian Phillips Curve” of Gaĺı and Gertler (1999). In this paper, we address the issues of identification, which have been overlooked due to the incompleteness of the single-equation formulations. We show that problems of weak… (More)

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Cite this paper

@inproceedings{Mavroeidis2002IdentificationAM, title={Identification and mis-specification issues in forward-looking models}, author={Sophocles Mavroeidis}, year={2002} }