The macroeconomic controversy over price rigidity -- how to resolve it and how Bayesian estimation has led us astray

DOI10.1007/s11079-021-09658-yOpenAlexW4205458465MaRDI QIDQ2685466

Patrick Minford, David Meenagh, Michael Wickens

Publication date: 22 February 2023

Published in: Open Economies Review (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1007/s11079-021-09658-y

zbMATH Keywords

maximum likelihoodBayesianindirect inferenceestimation bias

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Statistical methods; economic indices and measures (91B82) PDEs in connection with game theory, economics, social and behavioral sciences (35Q91)

Uses Software

• Dynare

Cites Work

• Testing DSGE models by indirect inference: a survey of recent findings
• Testing macro models by indirect inference: a survey for users
• Time to Build and Aggregate Fluctuations

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