Arbeitspapier
Sensitivity to Calibrated Parameters
A common approach to estimation of dynamic economic models is to calibrate a sub-set of model parameters and keep them fixed when estimating the remaining parameters. Calibrated parameters likely affect conclusions based on the model but estimation time often makes a systematic investigation of the sensitivity to calibrated parameters infeasible. I propose a simple and computationally low-cost measure of the sensitivity of parameters and other objects of interest to the calibrated parameters. In the main empirical application, I revisit the analysis of life-cycle savings motives in Gourinchas and Parker (2002) and show that some estimates are sensitive to calibrations.
- Sprache
-
Englisch
- Erschienen in
-
Series: CEBI Working Paper Series ; No. 14/20
- Klassifikation
-
Wirtschaft
Econometric and Statistical Methods and Methodology: General
Model Evaluation, Validation, and Selection
Mathematical Methods; Programming Models; Mathematical and Simulation Modeling: General
- Thema
-
sensitivity
transparency
structural estimation
calibration
savings motives
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Jørgensen, Thomas H.
- Ereignis
-
Veröffentlichung
- (wer)
-
University of Copenhagen, Department of Economics, Center for Economic Behavior and Inequality (CEBI)
- (wo)
-
Copenhagen
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
28.03.2202, 23:43 MESZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Jørgensen, Thomas H.
- University of Copenhagen, Department of Economics, Center for Economic Behavior and Inequality (CEBI)
Entstanden
- 2021
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