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Calibration of parameters

PostPosted: 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.

PostPosted: 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