Conventional Calibration Versus EDF Calibration

Julio Cordova ()

Working Papers Central Bank of Chile from Central Bank of Chile

Abstract: In this paper we analyze the impact of using alternative parameter calibration methodologies for general equilibrium models in the context of a particular application. When studying implications of different parameterizations on long-run equilibria for Chile, we find that the impact of free trade agreements on macroeconomic variables of interest is contingent on the choice of methodological approach. Nevertheless, steady state welfare gains due to the treaties are robust to different parameterizations.

Date: 2010-07
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Persistent link: https://EconPapers.repec.org/RePEc:chb:bcchwp:589

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