Article history: Received 14 August 2008 Accepted 20 January 2009 Available online 7 February 2009 JEL classification: E42 E52 E63

Article history: Received 16 June 2009 Accepted 19 April 2010 Available online xxxx JEL classification: E31 E50 E52 E58 F41

Article history: Received 26 June 2012 Revised 25 June 2013 Available online xxxx JEL classification: E52 E58

This paper analyses the use of factor analysis for instrumental variable estimation when the number of instruments tends to infinity. We consider cases where the unobserved factors are the optimal instruments but also cases where the factors are not necessarily the optimal instruments but can provide a summary of a large set of instruments. Further, the situation where many weak instruments exi...

This paper investigates a general procedure to estimate second-order approximations to a DSGE model and compares the performance with the widely used estimation technique for a log-linearized economy on a version of new Keynesian monetary model. It is done in the context of posterior distributions, welfare cost, and impulse response analysis. Our findings include the followings. First, we find ...

Weiss (1981) established core equivalence and the existence of competitive equilibria in finitely additive exchange economies. To underline the relevance of finitely additive economies we present in this note an example with a close connection to finite exchange economies. JEL Classification Number: D51.

This note provides a new proof of the non–emptiness of the fuzzy core in a pure exchange economy with finitely many agents. The proof is based on the concept of (Π, β)–balanced core for games without side payments due to Bonnisseau and Iehlé (2003). JEL classification codes: D51, C71.