ALTISSIMO, Filippo; SIVIERO, Stefano; TERLIZZESE, Daniele - In: Annales d'Economie et de Statistique (2002) 67-68, pp. 207-226
Policy evaluation based on the estimation of dynamic stochastic general equilibrium models rests on the assumption that a representative agent can be identified, whose behavioural parameters are policy-independent. Building on earlier work by Geweke [1985], this paper shows that in the presence...