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dc.contributor.author Canova, Fabio
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
dc.date.accessioned 2017-07-26T12:07:55Z
dc.date.available 2017-07-26T12:07:55Z
dc.date.issued 2007-10-01
dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=1054
dc.identifier.citation Palgrave Handbook of Applied Econometrics, forthcoming
dc.identifier.uri http://hdl.handle.net/10230/1061
dc.description.abstract This chapter highlights the problems that structural methods and SVAR approaches have when estimating DSGE models and examining their ability to capture important features of the data. We show that structural methods are subject to severe identification problems due, in large part, to the nature of DSGE models. The problems can be patched up in a number of ways but solved only if DSGEs are completely reparametrized or respecified. The potential misspecification of the structural relationships give Bayesian methods an hedge over classical ones in structural estimation. SVAR approaches may face invertibility problems but simple diagnostics can help to detect and remedy these problems. A pragmatic empirical approach ought to use the flexibility of SVARs against potential misspecification of the structural relationships but must firmly tie SVARs to the class of DSGE models which could have have generated the data.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 1054
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.title How much structure in empirical models?
dc.type info:eu-repo/semantics/workingPaper
dc.date.modified 2017-07-23T02:11:27Z
dc.subject.keyword dsge models
dc.subject.keyword svar models
dc.subject.keyword identification
dc.subject.keyword invertibility
dc.subject.keyword misspecification
dc.subject.keyword small samples.
dc.subject.keyword Macroeconomics and International Economics
dc.rights.accessRights info:eu-repo/semantics/openAccess

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