Autori: Canova, Fabio, Finn, M., Pagan, Adrian M.
Titolo: Evaluating a real business cycle model
Periodico: European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1993 - Fascicolo: 22 - Pagina iniziale: 1 - Pagina finale: 32

This paper provides a method to formally evaluate models with calibrated parameters. We examine whether the restricted VAR representation implied by the model is consistent with the data. Two types of restrictions are analyzed: one due to the fact that there are less forcing processes than endogenous variables and one obtained factoring out the first type of restrictions. We also propose a way to evaluate the performance of a model relative to a competitor. An application to the model analyzed by Burnside, Eichenbaum and Rebelo (1992) is considered.




Testo completo: http://hdl.handle.net/1814/463

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