We present a general framework for Bayesian estimation and causality assessment in epidemiological models. The key to … distribution. We show how to use the posterior simulation outputs as inputs for exercises in causality assessment. We apply our …

estimation of a standard hybrid New-Keynesian model. In particular, we shed a light on the impact of micro- and macropriors on … the estimation outcome. First, we investigate the impact of the transformation of those model parameters which are bounded …-stage estimation procedure – the so-called Moment-Matching based Bayesian (MoMBay) estimation approach – where we take the point …

constrained estimation produces a quantitative model with both reasonable asset-pricing as well as business-cycle implications. …