Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/159877
Authors: 
Mouchart, Michel
Orsi, Renzo
Year of Publication: 
2015
Series/Report no.: 
Quaderni - Working Paper DSE 1039
Abstract: 
A specific concept of structural model is used as a background for discussing the structurality of its parameterization. Conditions for a structural model to be also causal are examined. Difficulties and pitfalls arising from the parameterization are analyzed. In particular, pitfalls when considering alternative parameterizations of a same model are shown to have lead to ungrounded conclusions in the literature. Discussion of observationally equivalent models related to different economic mechanisms are used to make clear the connection between an economicall meaningful parameterization and an economically meaningful decomposition of a complex model. The design of economic policy is used for drawing some practical implications of the proposed analysis.
JEL: 
C10
C18
C50
C51
C54
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by-nc/3.0/
Document Type: 
Working Paper

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