Dynamic Equilibrium Economies: A Framework for Comparing Models and Data
提出一个多变量框架，用于评估动态均衡模型与数据的一致性，通过自助法检验偏差显著性，并利用拟合优度准则优化经济相关的损失函数，以美国牛周期为例说明。
We propose a constructive, multivariate framework for assessing agreement between (generally misspecified) dynamic equilibrium models and data, which enables a complete second-order comparison of the dynamic properties of models and data. We use bootstrap algorithms to evaluate the significance of deviations between models and data, and we use goodness-of-fit criteria to produce estimators that optimize economically-relevant loss functions. We provide a detailed illustrative application to modelling the U.S. cattle cycle.