Calibration of parameters

Posted:
Sat Apr 01, 2006 11:44 pm
by Oussa
I work with Dynare (GAUSS version 3.2). I tried example ramst.mod, I well understood the process of declaration of the model and the simulation, but I not understand how is done the process of the calibration of parameters, especially when one work on a dynamic model with several parameters.
Thank you.

Posted:
Mon Apr 03, 2006 11:48 am
by MichelJuillard
Dear Oussa,
your question is much too general to be answered in this forum. Calibration is more of an art than a technique where you can follow a couple of recipees.
You can take a look at the Winter 1996 issue of the Journal of Economic Perspectives for a start.
Best
Michel