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摘要翻译：
无解的结构模型是不相干的，多解的结构模型是不完整的。我们证明了偶有绑定约束的模型不是一般相干的。一致性要求对参数或对冲击分布的支持进行限制。当存在多个冲击时，支撑约束不能相互独立，因此结构冲击正交性的假设与相干性是不相容的。其一致性基于支持限制的模型通常是不完整的，允许非常多的最小状态变量解。
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英文标题：
《The unbearable lightness of equilibria in a low interest rate
environment》
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作者：
Guido Ascari and Sophocles Mavroeidis
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最新提交年份：
2021
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分类信息：
一级分类：Economics 经济学
二级分类：General Economics 一般经济学
分类描述：General methodological, applied, and empirical contributions to economics.
对经济学的一般方法、应用和经验贡献。
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一级分类：Quantitative Finance 数量金融学
二级分类：Economics 经济学
分类描述：q-fin.EC is an alias for econ.GN. Economics, including micro and macro economics, international economics, theory of the firm, labor economics, and other economic topics outside finance
q-fin.ec是econ.gn的别名。经济学，包括微观和宏观经济学、国际经济学、企业理论、劳动经济学和其他金融以外的经济专题
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英文摘要：
Structural models with no solution are incoherent, and those with multiple solutions are incomplete. We show that models with occasionally binding constraints are not generically coherent. Coherency requires restrictions on the parameters or on the support of the distribution of the shocks. In presence of multiple shocks, the support restrictions cannot be independent from each other, so the assumption of orthogonality of structural shocks is incompatible with coherency. Models whose coherency is based on support restrictions are generically incomplete, admitting a very large number of minimum state variable solutions.
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PDF链接：
https://arxiv.org/pdf/2006.12966
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