| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11817 |
| DP11817 What is the truth about DSGE models? Testing by indirect inference | |
| Patrick Minford; David Meenagh; Michael R. Wickens | |
| 发表日期 | 2017-01-31 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | This paper addresses the growing gulf between traditional macroeconometrics and the increasingly dominant preference among macroeconomists to use DSGE models and to estimate them using Bayesian estimation with strong priors but not to test them as they are likely to fail conventional statistical tests. This is in conflict with the high scientific ideals with which DSGE models were first invested in their aim of finding true models of the macroeconomy. As macro models are in reality only approximate representations of the economy, we argue that a pseudo-true inferential framework should be used to provide a measure of the robustness of DSGE models. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Pseudo-true inference Dsge models Wald tests indirect inference Likelihood ratio tests Robustness |
| URL | https://cepr.org/publications/dp11817 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/540630 |
| 推荐引用方式 GB/T 7714 | Patrick Minford,David Meenagh,Michael R. Wickens. DP11817 What is the truth about DSGE models? Testing by indirect inference. 2017. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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