Discussion of estimating linearized heterogeneous agent models using panel data
Den Haan, W. J.
(2020).
Discussion of estimating linearized heterogeneous agent models using panel data.
Journal of Economic Dynamics and Control,
115,
https://doi.org/10.1016/j.jedc.2020.103882
(2020).
Discussion of estimating linearized heterogeneous agent models using panel data.
Journal of Economic Dynamics and Control,
115,
https://doi.org/10.1016/j.jedc.2020.103882
The techniques proposed in Papp and Reiter (2020) allow the use of cross-sectional and aggregate data observed at different frequencies in the estimation of dynamic stochastic macroeconomic models. However, the question is whether technique is getting ahead of what is sensible in terms of currently available empirical strategies to estimate macroeconomic models which are – without exception – misspecified.