Weak identification of forward-looking models in monetary economics.
Recently, single-equation estimation by the generalized method of moments (GMM) has become popular in the monetary economics literature, for estimating forward-looking models with rational expectations. We discuss a method for analysing the empirical identification of such models that exploits their...
| Main Author: | |
|---|---|
| Format: | Journal article |
| Language: | English |
| Published: |
Blackwell Publishing
2004
|