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We propose a general protocol for calibration and validation of complex simulation models by an approach based on …
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. Summarizing and extending recent advances in Bayesian econometrics, Geweke shows how simple modern simulation methods can …
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recent advances in Bayesian econometrics, Geweke shows how simple modern simulation methods can complement the creative … Averaging -- 2.3 Simulation -- 2.4 Model Evaluation -- 3 Prior Predictive Analysis and Model Evaluation -- 3.1 Data and Models …
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This paper employs MIMIC, an applied general equilibrium model of the Dutch economy, to explore various tax cuts aimed at combating unemployment and raising labor supply. MIMIC combines modern labor-market theories, a firm empirical foundation detailed description of Dutch labor-market...
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