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equivalence, partial and weak identification problems are widespread and they lead to biased estimates, unreliable t … identification and study how small samples interact with parameters and shock identification. We provide diagnostics and tests to … detect identification failures and apply them to a state-of-the-art model. …
Persistent link: https://www.econbiz.de/10005155307
We investigate identification issues in DSGE models and their consequences for parameter estimation and model … equivalence, partial and weak identification problems are widespread and typically produced by an ill-behaved mapping between the … structural parameters and the coefficients of the solution. Different objective functions affect identification and small samples …
Persistent link: https://www.econbiz.de/10004990850
observational equivalence, partial and weak identification problems are widespread, that they lead to biased estimates, unreliable t … identification and study how small samples interact with parameters and shock identification. We provide diagnostics and tests to … detect identification failures and apply them to a state-of-the-art model. …
Persistent link: https://www.econbiz.de/10005772125
Persistent link: https://www.econbiz.de/10012523719
function. The results do not hinge on an incorrect identification strategy or on small sample bias. But the bias introduced by … truncation can lead to bias in the identification of the structural shocks. Identification strategies that are equivalent in the …
Persistent link: https://www.econbiz.de/10012530133
Incluye bibliografía ; In this paper we present the theoretical foundations and the simulation results obtained with a new dynamic general equilibrium model developed at the Banco de España for the Spanish economy and the rest of Euro area. The model is designed to help in simulating the...
Persistent link: https://www.econbiz.de/10012530143
Este artículo presenta un modelo de equilibrio general dinámico y estocástico, de tamaño medio, para simulaciones de política fiscal. Respecto de otros modelos de este tipo, nuestro modelo incorpora dos características importantes. Por un lado, consideramos una estructura de unión...
Persistent link: https://www.econbiz.de/10012530334
This paper analyzes the determinants of Spain's macroeconomic fluctuations since the inception of the euro in 1999, with a special attention to observed growth and inflation differentials with respect to the rest of the European Monetary Union (EMU). For that purpose we estimate the Banco de...
Persistent link: https://www.econbiz.de/10012548700
identification problems due, in large part, to the nature of DSGE models. The problems can be patched up in a number of ways but …
Persistent link: https://www.econbiz.de/10005707965
I describe a new method for imposing zero restrictions (both short and long-run) in combination with conventional sign-restrictions. In particular I extend the Rubio-Ramirez et al. (2010) algorithm for applying short and long-run restrictions for exactly identified models to models that are...
Persistent link: https://www.econbiz.de/10012143826