Identifiability of a coincident index model for the Colombian economy

Borradores de Economia
Number: 
242
Published: 
Classification JEL: 
E52, E58, E31
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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In this theoretical report, the identifiability property of a coincident index model is studied. As a result, characterization of the identifiability conditions solves a model specification problem, which was detected in the design of an earlier index fo