The role of simulation methods in Macroeconomics

• Autores: Alfonso Novales Cinca
• Localización: Spanish economic review, ISSN 1435-5469, Vol. 2, Nº 3, 2000, págs. 155-181
• Idioma: inglés
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• Resumen

  • Abstract. After reviewing the reasons to use solution methods in macroeconomics, this survey paper discusses different aspects relative to a rigorous use of the numerical output of such methods. Special attention is paid to suggestions that have been made to incorporate parameter uncertainty. Finally, the need to test for usually maintained assumptions, such as rationality of expectations, is emphasized.