This paper examines the role of judgment shocks in combination with other structural shocks in explaining post … augment these forecasts with judgment. These judgments may be interpreted as a reaction to current news stories or policy … information about structural shocks, but judgment itself may also be subject to its own stochastic shocks. I estimate a standard …

the 1950s. It can be used for nearly any forecasting, estimation, or decision making problem not barred by complexity or …

losing much accuracy. Moreover, the calibration is almost automatic and it is simple and easy to implement. Adding this model …

“calibration” procedures for CGE models, which are utilized to infer economic data parameters values of a specific period, and that … consistency; the final calibration of the behavioral parameters and the validation of the model. The main objective is to present …

comparison is the choice of the fastest method for the calibration of stochastic volatility models, e.g. Heston, Bates, Barndor …®-Nielsen-Shephard models or Levy models with stochastic time. We show that using additional cache technique makes the calibration with the … direct integration method at least seven times faster than the calibration with the fractional FFT method. …