Estimation by simulation of monotone dynamical systems (Q1408406)
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scientific article; zbMATH DE number 1981528
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Estimation by simulation of monotone dynamical systems |
scientific article; zbMATH DE number 1981528 |
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Estimation by simulation of monotone dynamical systems (English)
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15 September 2003
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The authors give a general proof of consistency for the simulated moments estimator in a parameterized family of stochastic models with monotone dynamics. These models are frequently encountered in economic applications. The proof of the estimator draws upon a uniform law of large numbers over a continuum of invariant distributions indexed by the model's parameters.
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simulated moments estimator
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invariant distributions
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monotone policy functions
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economic model
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consistency
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stochastic models
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