Calibrating, simulating and estimating DSGE

[wmmahrous]

Dear All,
I have decided not to use the data of Tanzania in estimating the DSGE model I have shown to you before. I am thinking of calibrating the model first and then simulating it... The question here, can I use the file of simulated data in re-estimating the parameters of the model using the Bayesian approach? ...I am trying to do so because my Thesis is about using Bayesian approach in estimating DSGEs with application on monetary policy in Tanzania. I'm waiting for your reply.
Thanks in Advance,
Walaa Mahrous

[jpfeifer]

You can do so, but why would you want to do that? Except for the prior weight, the estimation would just recover the structural parameters you put in during calibration and simulation.

[wmmahrous]

Thnx for your feedback my dear friend ...I'm trying to do so coz my thesis is bout using Bayesian techniques in estimating DSGE models. I have opted to calibrating the model coz there is no quartely data available in Tanzanian case...So, I trying to show in my thesis that I have good command of using bayesian approch in estimation and that i can analyse the results in a very good way...u know, this is my ph.d. thesis...ana it is the very first time in the place i am studying at to have a thesis on DSGE Models ....