The American Economic Review, Volume 97American Economic Association., 2007 |
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... likelihood of the data . In a second step , the Metropolis - Hastings algorithm is used to get a complete picture of the posterior distribution and to evaluate the marginal likelihood of the model . " The model is 6 See Smets and ...
... likelihood of the data . In a second step , the Metropolis - Hastings algorithm is used to get a complete picture of the posterior distribution and to evaluate the marginal likelihood of the model . " The model is 6 See Smets and ...
Página 595
... marginal likelihood , which can be interpreted as a summary statistic for the model's out - of - sample prediction perfor- mance , forms a natural benchmark for comparing the DSGE model with alternative specifications and other ...
... marginal likelihood , which can be interpreted as a summary statistic for the model's out - of - sample prediction perfor- mance , forms a natural benchmark for comparing the DSGE model with alternative specifications and other ...
Página 597
... probability of 0.10 is about equally costly in terms of a deterioration of the marginal likelihood . In both cases the marginal likelihood falls very significantly by about 50 . A lower degree of price stickiness leads to a strong ...
... probability of 0.10 is about equally costly in terms of a deterioration of the marginal likelihood . In both cases the marginal likelihood falls very significantly by about 50 . A lower degree of price stickiness leads to a strong ...
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O 2 0 2007 | 713 |
ALMA COHEN AND LIRAN EINAV | 745 |
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