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Competitive Model Selection in Algorithmic Targeting
Iyer, Ganesh; Ke, T. Tony - National Bureau of Economic Research - 2023
algorithm in terms of model complexity or the number of predictors to accommodate. Each firm then appoints a data analyst that … uses the chosen algorithm to estimate demand for multiple consumer segments, based on which, it devises a targeting policy …
Persistent link: https://www.econbiz.de/10014247922
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Factor Analysis in a Model with Rational Expectations
Beyer, Andreas - 2007
DSGE models are characterized by the presence of expectations as explanatory variables. To use these models for policy evaluation, the econometrician must estimate the parameters of expectation terms. Standard estimation methods have several drawbacks, including possible lack or weakness of...
Persistent link: https://www.econbiz.de/10012465246
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Near-Rationality and Inflation in Two Monetary Regimes
Ball, Laurence - 2000
Sticky-price models with rational expectations fail to capture the inertia in U.S. inflation. Models with backward-looking expectations capture current inflation behavior, but are unlikely to fit other monetary regimes. This paper seeks to overcome these problems with a near-rational model of...
Persistent link: https://www.econbiz.de/10012470750
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Solving and Estimating Indeterminate DSGE Models
Farmer, Roger E.A. - 2013
We propose a method for solving and estimating linear rational expectations models that exhibit indeterminacy and we provide step-by-step guidelines for implementing this method in the Matlab-based packages Dynare and Gensys. Our method redefines a subset of expectational errors as new...
Persistent link: https://www.econbiz.de/10012459205
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Common Sense and Simplicity in Empirical Industrial Organization
Pakes, Ariel - 2003
environmental changes. The paper provides examples illustrating the value of simulation for the estimation of demand systems and of …
Persistent link: https://www.econbiz.de/10012468540
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Putting Quantitative Models to the Test : An Application to Trump's Trade War
Adão, Rodrigo; Costinot, Arnaud; Donaldson, Dave - National Bureau of Economic Research - 2023
The primary motivation behind quantitative modeling in international trade and many other fields is to shed light on the economic consequences of policy changes. To help assess and potentially strengthen the credibility of such quantitative predictions we introduce an IV-based goodness-of-fit...
Persistent link: https://www.econbiz.de/10014322709
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Merging Simulation and Projection Approaches to Solve High-Dimensional Problems
Judd, Kenneth L. - 2012
We introduce an algorithm for solving dynamic economic models that merges stochastic simulation and projection … approaches: we use simulation to approximate the ergodic measure of the solution, we construct a fixed grid covering the support … support of the ergodic measure roughly uniformly. The proposed algorithm is tractable in problems with high dimensionality …
Persistent link: https://www.econbiz.de/10012460159
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Methods of Solution and Simulation for Dynamic Rational Expectations Models
Blanchard, Olivier J. - 1983
Many methods have been proposed for the solution and simulation of medium or large size models under the assumption of …
Persistent link: https://www.econbiz.de/10012478019
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Full Information Estimation and Stochastic Simulation of Models with Rational Expectations
Fair, Ray C. - 1991
expectations is described in this paper. The stochastic simulation of such models is also described. The methods discussed in this …
Persistent link: https://www.econbiz.de/10012475137
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The Expectations Trap Hypothesis
Christiano, Lawrence J. - 2000
We explore a hypothesis about the take-off in inflation that occurred in the early 1970s. According to the expectations trap hypothesis, the Fed was pushed into producing the high inflation out of a fear of violating the public's inflation expectations. We compare this hypothesis with the...
Persistent link: https://www.econbiz.de/10012470941