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Macroeconometric modelling with a global perspective
Pesaran, Mohammad Hashem; Smith, Ron P. - 2006
imposed if accepted. Alternatively, if one has less confidence in the short-run theory the dynamics can be left unrestricted … equilibrium values of the variables reflecting the long-run theory embodied in the model can be calculated. This approach has been …
Persistent link: https://www.econbiz.de/10010276174
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On identification of Bayesian DSGE models
Koop, Gary; Pesaran, Mohammad Hashem; Smith, Ron P. - 2011
In recent years there has been increasing concern about the identification of parameters in dynamic stochastic general equilibrium (DSGE) models. Given the structure of DSGE models it may be difficult to determine whether a parameter is identified. For the researcher using Bayesian methods, a...
Persistent link: https://www.econbiz.de/10010276281