I'm trying to evaluate a new keynesian model, and make estimates with different variations around a "ground model". Does anyone have any comments on how I should compare the different models and conclude which one is most likely the best by:
1) Maximum Likelihood estimation
2) Bayesian estimation
Is the smoothed shock graphs the only thig I can use for comparison?
Dynare forums
Forums for asking questions, posting comments and uploading examples related to Dynare
Goodness of fit
Forum rules
This forum is closed. You can read the posts but cannot write. We have migrated the forum to a new location (https://forum.dynare.org) where you will have to reset your password.
This forum is closed. You can read the posts but cannot write. We have migrated the forum to a new location (https://forum.dynare.org) where you will have to reset your password.
2 posts
• Page 1 of 1
model evaluation
by tomiesugahara » Mon May 19, 2008 7:44 pm
Hi bk
Section 8.4 of User Guide has the answer to your question.
Try computing the posterior odds ratio between your "ground model" and the variation models. It should be easily done since Dynare outputs values of the marginal density of data conditional on the model.
Best,
Section 8.4 of User Guide has the answer to your question.
Try computing the posterior odds ratio between your "ground model" and the variation models. It should be easily done since Dynare outputs values of the marginal density of data conditional on the model.
Best,
tomie
- tomiesugahara
- Posts: 3
- Joined: Mon Mar 31, 2008 12:33 pm
2 posts
• Page 1 of 1
Who is online
Users browsing this forum: No registered users and 13 guests