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 …

We prove that local projections (LPs) and Vector Autoregressions (VARs) estimate the same
impulse responses. This nonparametric result only requires unrestricted lag structures. We …

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 …

Exogenous OPEC and non-OPEC oil supply cuts, which are identified within an SVAR
model with unplanned oil supply outage as an external instrument, decrease industrial …

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 …

This article presents a model of quantitative easing (QE) at the zero lower bound (ZLB) on
the short-term nominal interest rate. QE, which reduces the maturity of government debt, is …

I argue that the seemingly disparate findings of the recent empirical literature on monetary
policy transmission are all consistent with the same standard macro models. Weak sign …

This paper reconciles the asymptotic disagreement between Bayesian and frequentist
inference in set‐identified models by adopting a multiple‐prior (robust) Bayesian approach …

Are optimism shocks an important source of business cycle fluctuations? Are deficit-financed
tax cuts better than deficit-financed spending to increase output? These questions have …

Point estimates and error bands for SVARs that are set identified are only justified if the
researcher is persuaded that some parameter values are a priori more plausible than others …