Search Results - subject:"calibration."

Stepwise calibration of a higher-order Keynes-Metzler-Goodwin model

Franke, Reiner - Society for Computational Economics - SCE - 2004

variables are broadly compatible with stylized facts. This calibration procedure is organized in a hierarchical structure, so …

Persistent link: https://www.econbiz.de/10005706508

Trade Policy and South Korea's Growth Miracle

Connolly, Michelle; Yi, Kei-Mu - Society for Economic Dynamics - SED - 2004

What effects do more open trade policies have on transitional and long run growth rates? This is the central question in trade and growth. Yet, despite numerous empirical studies over the past twenty-five years there are almost no enduring, robust results on the importance of (openness to) trade...

Persistent link: https://www.econbiz.de/10005051420

Monetary Policy in an Estimated Open-Economy Model with Imperfect Pass-Through

Lindé, Jesper; Nessen, Marianne; Söderström, Ulf - C.E.P.R. Discussion Papers - 2004

We develop a structural model of a small open economy with gradual exchange rate pass-through and endogenous inertia in inflation and output. We then estimate the model by matching the implied impulse responses with those obtained from a VAR model estimated on Swedish data. Although our model is...

Persistent link: https://www.econbiz.de/10005123761

Estimating the finite population total under Frame imperfections

Ängsved, Marianne - Handelshögskolan, Örebro Universitet - 2004

When sampling from a finite population the access to a good samplingcframe is of vital importance. However, the statistician often has to confront the problem of estimation in the face of non-negligible frame imperfections, e.g. overcoverage and undercoverage. In this paper we discuss different...

Persistent link: https://www.econbiz.de/10005190529

Probability Judgments for Continuous Quantities: Linear Combinations and Calibration

Hora, Stephen C. - In: Management Science 50 (2004) 5, pp. 597-604

of the quality of probability distributions given by experts is calibration--the faithfulness of the probabilities in an … empirically verifiable sense. A method of measuring calibration for continuous probability distributions is presented here. A … combining well-calibrated distributions of individual experts using linear rules can only result in reducing calibration. In …

Persistent link: https://www.econbiz.de/10009218256

A Decompositional Approach to the Estimation of Technological Change

Okushima, Shinichiro; Tamura, Makoto - Society for Computational Economics - SCE - 2003

Persistent link: https://www.econbiz.de/10005537809

Portfolio Choice with Illiquid Assets

Koren, Miklós; Szeidl, Adam - C.E.P.R. Discussion Papers - 2003

The present Paper investigates the effects of incorporating illiquidity in a standard dynamic portfolio choice problem. Lack of liquidity means that an asset cannot be immediately traded at any point in time. We find the portfolio share of financial wealth invested in illiquid assets given the...

Persistent link: https://www.econbiz.de/10005498092

Education Policies to Revive a Stagnant Economy: The Case of Sub- Saharan Africa

Caucutt, Elizabeth M.; Kumar, Krishna B. - EconWPA - 2003

In this paper, we argue that the condition of education and the economy of the low performing sub-Saharan African countries can be characterized as a stagnant steady state -- a "trap". We present a simple heterogeneous-agent model in which high costs of education relative to income and the skill...

Persistent link: https://www.econbiz.de/10005407694

The rasch model to measure service quality

BATTISTI, Francesca DE; NICOLINI, Giovanna; SALINI, Silvia - Dipartimento di Economia, Management e Metodi … - 2003

In this paper the Rasch model will be considered, a statistical tool arising from psychometric field, which allows the examination of the service quality through the known variables: for each of those an objective measure is obtained. In particular, the application of Rasch model will concern...

Persistent link: https://www.econbiz.de/10005007252

On the Suboptimality of Single-Factor Exercise Strategies for Bermudan Swaptions

Svenstrup, Mikkel - Ehrvervøkonomisk Institut, Institut for Økonomi - 2003

In this paper we examine the cost of using recalibrated single-factor models to determine the exercise strategy for Bermudan swaptions in a multi-factor world. We demonstrate that single-factor exercise strategies applied in a multi-factor world only give rise to economically insignificant ...

Persistent link: https://www.econbiz.de/10005802128