In the aftermath of the crisis, DSGE modeling using perturbation-based methods has been challenged, as the objective of fine-tuning business cycle fluctuations has been (temporarily) postponed. In ...
This paper develops a method to efficiently estimate hidden Markov models with continuous latent variables using maximum likelihood estimation. To evaluate the (marginal) likelihood function, I ...
In the aftermath of the crisis, DSGE modeling using perturbation-based methods has been challenged, as the objective of fine-tuning business cycle fluctuations has been (temporarily) postponed. In ...
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