The paper addresses the problem of calibration of the parameters in a macroeconomic model in the situation, which is typical of LDCs, where the time series data are incomplete. A three-stage systems approach is developed. In Stage One, a quadratic loss function, involving the discrepancies between the observed actual values and the corresponding model solutions for the endogenous variables (relative to the prevailing calibration), is minimized with...
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INFORMATION
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1985/04/01
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Document de travail départemental
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DRD179
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1
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1
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2013/06/10
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Disclosed
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Calibration of macroeconomic models with incomplete data : a systems approach
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Macroeconomic models
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