The 'Puzzles' methodology: En route to Indirect Inference?

Vo Phuong Mai Le, A. Patrick Minford and Michael Wickens

Economic Modelling, 2010, vol. 27, issue 6, 1417-1428

Abstract: We review the methods used in many papers to evaluate DSGE models by comparing their simulated moments with data moments. We compare these with the method of Indirect Inference to which they are closely related. We illustrate the comparison with contrasting assessments of a two-country model in two recent papers. We conclude that Indirect Inference is the proper end point of the puzzles methodology.

Keywords: Bootstrap; US-EU; model; DSGE; VAR; Indirect; Inference; Wald; statistic; Anomaly; Puzzle (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (10)

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Related works:
Working Paper: The 'Puzzles' methodology: en route to Indirect Inference? (2009)
Working Paper: The 'Puzzles' Methodology: en route to Indirect Inference? (2009)
Working Paper: The ‘Puzzles’ Methodology: En Route to Indirect Inference? (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:27:y:2010:i:6:p:1417-1428

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