Although formal conditions for identification in the multinational probit model are now clearly established, little is known about how various estimable multinational probit specifications perform in practice. This article shows that parameter identification in the multinational probit model is extremely tenuous in the absence of exclusion restrictions. This previously unnoticed fact is important because formal identification of multinational probit models does not require exclusion restrictions, and many potential economic applications of multinational probit are to situations in which exclusion restrictions are not readily available. Thus, failure to be aware of the difficulties present in such situations may lead to reporting of unreliable results.
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Volume (Year): 10 (1992) Issue (Month): 2 (April) Pages: 193-200 Download reference. The following formats are available: HTML
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