Ríos-Rull, José-Víctor; Schorfheide, Frank; … - In: Journal of Monetary Economics 59 (2012) 8, pp. 826-846
Calibration and modern (Bayesian) estimation methods for a neoclassical stochastic growth model are applied to make the case that the identification of key parameters, rather than quantitative methodologies per se, is responsible for empirical findings. For concreteness, the model is used to...