Estimating the rational expectations model of speculative storage: A Monte Carlo comparison of three simulation estimators

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Capital Structure Dynamics and Transitory Debt (2011, unknown): “Equity issuance incurs exogenously given costs, which can be interpreted as flotation or adverse selection costs, as in Myers and Majluf (1984). Cash balances are also costly, an assumption motivated by differential borrowing and lending rates (Cooley and Quadrini, 2001), agency costs (Jensen, 1986;”
Simulation-Based Method of Moments and Efficiency (2002, background): “Michaelides and Ng (2000) compared the performance of MSM, IND, and EMM in small samples, T D 100 or 200.”
The empirical relevance of the competitive storage model (2011, background): “…the function p in the region of zero inventories might induce non-negligible errors if the grid is sparse, due to the fact that p is kinked (see Michaelides and Ng, 2000, p. 243; Cafiero, unpublished).10 To investigate the extent of the approximation error, we first solve the numerical model…”