Levine, Paul; Pearlman, Joseph; Perendia, George; Yang, Bo - Centre for Dynamic Macroeconomic Analysis, University … - 2010
We provide a tool for estimating DSGE models by Bayesian Maximum-likelihood meth?ods under very general information assumptions. This framework is applied to a New Keynesian model where we compare the standard approach, that assumes an informa?tional asymmetry between private agents and the...