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Structural Econometric Models (Hardcover)
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Structural Econometric Models (Hardcover)
Series: Advances in Econometrics
Expected to ship within 12 - 19 working days
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This volume of Advances in Econometrics focuses on recent
developments in the use of structural econometric models in
empirical economics. The papers in this volume are divided in to
three broad groups. The first part looks at recent developments in
the estimation of dynamic discrete choice models. This includes
using new estimation methods for these models based on Euler
equations, estimation using sieve approximation of high dimensional
state space, the identification of Markov dynamic games with
persistent unobserved state variables and developing test of
monotone comparative static in models of multiple equilibria. The
second part looks at recent advances in the area empirical matching
models. The papers in this section look at developing estimators
for matching models based on stability conditions, estimating
matching surplus functions using generalized entropy functions,
solving for the fixed point in the Choo-Siow matching model using a
contraction mapping formulation. While the issue of incomplete, or
partial identification of model parameters is touched upon in some
of the foregoing chapters, two chapters focus on this issue, in the
context of testing for monotone comparative statics in models with
multiple equilibria, and estimation of supermodular games under the
restrictions that players' strategies be rationalizable. The last
group of three papers looks at empirical applications using
structural econometric models. Two applications applies matching
models to solve endogenous matching to the loan spread equation and
to endogenize marriage in the collective model of intrahousehold
allocation. Another applications looks at market power of
condominium developers in the Japanese housing market in the 1990s.
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