A COMPARISON BETWEEN CALIBRATION AND BAYESIAN APPROACH ON A REAL BUSINESS CYCLE MODEL

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 compare then the results of the estimation in terms of second order moments.

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Year of publication:	2007
Authors:	Caraiani, Petre
Published in:	Theoretical and Applied Economics. - Asociaţia Generalā a Economiştilor din România - AGER. - Vol. 11(516)(supplement)(vol2).2007, 11(516)(supplement)(vol2), p. 307-314
Publisher:	Asociaţia Generalā a Economiştilor din România - AGER
Subject:	estimation methods \| Bayesian methods \| business cycles

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008751355