This chapter reviews the microeconometrics literature on partial identification, focusing on
the developments of the last thirty years. The topics presented illustrate that the available …

Uncertainty about the future rises in recessions. But is uncertainty a source of business
cycles or an endogenous response to them, and does the type of uncertainty matter? We …

This chapter provides an overview of and user's guide to dynamic factor models (DFMs),
their estimation, and their uses in empirical macroeconomics. It also surveys recent …

In this paper, we develop algorithms to independently draw from a family of conjugate
posterior distributions over the structural parameterization when sign and zero restrictions …

This paper makes the following original contributions to the literature.(i) We develop a
simpler analytical characterization and numerical algorithm for Bayesian inference in …

Sign restrictions on the responses generated by structural vector autoregressive models
have been proposed as an alternative approach to the use of exclusion restrictions on the …

Identification strategies concern what can be learned about the value of a parameter based
on the data and the model assumptions. The literature on partial identification is motivated …

We evaluate the hypothesis that the zero lower bound (ZLB) constraint was, in practice,
irrelevant during the recent ZLB episode experienced by the US economy (the 2009Q1 …

Notwithstanding the increased use of estimated dynamic stochastic general equilibrium
(DSGE) models over the last decade, structural vector autoregressive (VAR) models …

We explore the role of demand from emerging and developed economies as drivers of the
real price of oil. Using a FAVAR model that identifies shocks from different regions of the …