This paper employs the one-sector Real Business Cycle model as a testing ground for four different procedures to estimate Dynamic Stochastic General Equilibrium (DSGE) models. The procedures are: 1) Maximum Likelihood (with and without measurement errors and incorporating priors), 2) Generalized...

In this paper I compare the calibration technique with the Bayesian approach in the context of econometric methods of estimating structural models. I use the real business cycles model to apply both techniques. The model is calibrated and estimated for Romanian economy using quarterly data. I...

The widespread use of Pearson correlations and, by extension, the Maximum Likelihood estimation method, does not take into account the measurement properties of Likert scales observed variables when carrying out a construct validity process through Confirmatory Factor Analysis (CFA). This...

This paper examines the estimation of two-stage clustered randomized controlled trial designs (RCTs) in education research using the Neyman causal inference framework that underlies experiments. The key distinction between the considered causal models is whether potential treatment and control...

Studies on the cost of illness arise to advance knowledge and estimation of the economic burden of disease. These identify, quantify and value all the economic resources linked to a disease, and classify them as direct, indirect and intangible costs. The aim of this paper is to critically...

Estimated labor supply functions are important tools when designing an optimal income tax or calculating the effect of tax reforms. It is therefore of large importance to use estimation methods that give reliable results and to know their properties. In this paper Monte Carlo simulations are...

The emergence of new Asian regionalisms such as ASEAN+3 (China, Korea and Japan) and the proposed ASEAN+5 (ASEAN+3 plus Australia and New Zealand) and other bilateral, plurilateral and multilateral free trade agreements in recent years requires research into these important developments and...

In earlier cross-sectional gravity-theory reports (see for example Frankel and Romer, 1999), empirical modelling evidence lends support to the hypothesis of ‘trade causes growth’. In our time-series study on trade-growth causation for a new Asian regionalism (namely ASEAN+3), the hypothesis...