Econometric Analysis of Linearized Singular Dynamic Stochastic General Equilibrium Models

  title={Econometric Analysis of Linearized Singular Dynamic Stochastic General Equilibrium Models},
  author={Herman J. Bierens},
In this paper I propose an alternative to calibration of linearized singular dynamic stochastic general equilibrium models. Given an a-theoretical econometric model as a representative of the data generating process, I will construct an information measure which compares the conditional distribution of the econometric model variables with the corresponding singular conditional distribution of the theoretical model variables. The singularity problem will be solved by using convolutions of both… CONTINUE READING


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