advances in the estimation and evaluation of DSGE models, discusses current challenges, and provides avenues for future …

the perspective of economic theory as well as from the perspective of the historical experiences of the countries under … model specification. Model uncertainty consists of two types: theory uncertainty, which relates to which growth determinants … draws from the same statistical model. We propose ways to account for both theory and heterogeneity uncertainty. Finally …

option values, the internal rate of return - a cornerstone of classical human capital theory - is not a useful guide to …

: estimation of parameters that are relevant for policy trade-offs and treatment of estimated deviations from the cross …

preference shifter. We then develop a tractable estimation procedure and apply it to Cambridge. Estimates suggest that while 82 …