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Disequilibrium Econometrics on Micro Data

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  • Bouissou, M. B.
  • Laffont, J. J.
  • Vuong, Quang H.

Abstract

This paper brings some empirical evidence to the construction of a more disaggregated view of disequilibrium. Individual data on firms collected by INSEE through periodic Business Surveys are used to construct the distribution of firms over the four possible disequilibrium regimes. Then the behavior of this distribution over time is analyzed by estimating dynamic conditional logit models on panel data.
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Suggested Citation

  • Bouissou, M. B. & Laffont, J. J. & Vuong, Quang H., 1984. "Disequilibrium Econometrics on Micro Data," Working Papers 502, California Institute of Technology, Division of the Humanities and Social Sciences.
    • Handle: RePEc:clt:sswopa:502
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    Cited by:

    1. Karmelavičius, Jaunius & Mikaliūnaitė-Jouvanceau, Ieva & Petrokaitė, Austėja Petrokaitė, 2022. "Housing and credit misalignments in a two-market disequilibrium framework," ESRB Working Paper Series 135, European Systemic Risk Board.
    2. Plassard, Romain & Renault, Matthieu, 2023. "General equilibrium models with rationing: The making of a ‘European specialty’," European Economic Review, Elsevier, vol. 159(C).
    3. Eric Maskin, 2004. "Jean-Jacques Laffont: A Look Back," Journal of the European Economic Association, MIT Press, vol. 2(5), pages 913-923, September.
    4. Maziarz Mariusz, 2019. "A disequilibrium mechanism: When managerial decisions cause macroeconomic instability," Economics and Business Review, Sciendo, vol. 5(1), pages 79-92, March.

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