TY  - JOUR
AU  - Cooper,Russell W.
TI  - Estimation and Identification of Structural Parameters in the Presence of Multiple Equilibria
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 8941
PY  - 2002
Y2  - May 2002
UR  - http://www.nber.org/papers/w8941
L1  - http://www.nber.org/papers/w8941.pdf
N1  - Author contact info:
Russell Cooper
Department of Economics
The Pennsylvania State University
611 Kern
State College, PA 16802
E-Mail: russellcoop@gmail.com
AB  - This paper studies quantitative implications of model economies that exhibit multiple equilibria. The goal is to assess two interrelated issues.  First, do economies with multiple equilibria have falsifiable predictions?  Second, is identification possible in economies that exhibit multiple equilibria?  Put differently, are these economies observationally equivalent to economies with unique equilibria?  We raise these questions within a general framework and then study a series of examples to determine how the existing literature has addressed them.
ER  -