THE MODERN ECONOMY is a complex machine. Its job is to allocate limited resources and distribute output among a large number of agents—mainly individuals, firms, and governments—allowing for the ...

We study inference in structural models with a jump in the conditional density, where location and size of the jump are described by regression curves. Two prominent examples are auction models, where ...

This paper points to some of the difficulties in large-scale econometric modeling. The major issues here include the logic of the equations, the nature of the stochastic disturbance terms, the logic ...