Title

Indeterminacy, Nonparametric Calibration and Counterfactual Equilibria

Document Type

Discussion Paper

Publication Date

6-1-2003

CFDP Number

1426

CFDP Pages

16

Abstract

We propose a nonparametric approach to multiple calibration of numerical general equilibrium models, where counterfactual equilibria are solutions to the Walrasian inequalities. We present efficient approximation schemes for deciding the solvability of Walrasian inequalities.

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