Fernández-Villaverde, Jesús; Rubio-Ramirez, Juan Francisco - 2002
This paper studies the properties of the Bayesian approach to estimation and comparison of dynamic equilibrium … that Bayesian methods have a classical interpretation: asymptotically the parameter point estimates converge to their … illustrate the strong small sample behavior of the approach using a well-known application: the U.S. cattle cycle. Bayesian …