Bifurcation of Macroeconometric Models and Robustness of Dynamical Inferences
William Barnett () and
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Guo Chen: Department of Economics, The University of Kansas
No 201411, WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS from University of Kansas, Department of Economics
This survey provides an overview of the classes of macroeconometric models for which these experiments have so far been run and emphasizes the implications for lack of robustness of conventional dynamical inferences from macroeconometric policy simulations. By making this detailed survey of past bifurcation experiments available, we hope to encourage and facilitate further research on this problem with other models and to emphasize the need for simulations at various points within the confidence regions of macroeconometric models, rather than at only point estimates.Length: 52 pages
New Economics Papers: this item is included in nep-mac
Date: 2015-04, Revised 2015-04
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Journal Article: Bifurcation of Macroeconometric Models and Robustness of Dynamical Inferences (2015)
Working Paper: Bifurcation of macroeconometric models and robustness of dynamical inferences (2015)
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Persistent link: http://EconPapers.repec.org/RePEc:kan:wpaper:201411
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