Likelihood evaluation of models with occasionally binding constraints

B-Tier
Journal: Journal of Applied Econometrics
Year: 2019
Volume: 34
Issue: 7
Pages: 1073-1085

Score contribution per author:

0.503 = (α=2.01 / 4 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Applied researchers interested in estimating key parameters of dynamic stochastic general equilibrium models face an array of choices regarding numerical solution and estimation methods. We focus on the likelihood evaluation of models with occasionally binding constraints. We document how solution approximation errors and likelihood misspecification, related to the treatment of measurement errors, can interact and compound each other.

Technical Details

RePEc Handle
repec:wly:japmet:v:34:y:2019:i:7:p:1073-1085
Journal Field
Econometrics
Author Count
4
Added to Database
2026-01-25