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Estimating a Falsified Model: Some Impossibility Theorems

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  • George Lady
  • Andres J. Buck

Abstract

This paper shows that a qualitative analysis of a model's structural arrays can falsify the model's zero restriction. When done, the estimated structure is impossible.The modeling approaches used are comparative statics, Monte Carlo sampling, and qualitative tachnigues.The paper gives applied, and generic, examples of models with falsified zero restrictions.

Suggested Citation

  • George Lady & Andres J. Buck, 2015. "Estimating a Falsified Model: Some Impossibility Theorems," EcoMod2015 8326, EcoMod.
    • Handle: RePEc:ekd:008007:8326
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    References listed on IDEAS

    as
    1. Lady, George M. & Buck, Andrew J., 2011. "Structural models, information and inherited restrictions," Economic Modelling, Elsevier, vol. 28(6), pages 2820-2831.
    2. Lady, George M., 1995. "Robust economic models," Journal of Economic Dynamics and Control, Elsevier, vol. 19(3), pages 481-501, April.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

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    JEL classification:

    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
    • C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection

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