Lubik, Thomas A.; Schorfheide, Frank - 2002
This paper considers a prototypical monetary business cycle model for the U.S. economy, in which the equilibrium is … estimates to values for which the equilibrium is unique. We show how the likelihood-based estimation of dynamic stochastic … general equilibrium models can be extended to allow for indeterminacies and sunspot fluctuations. We propose a posterior odds …
