A Test for the Distributional Comparison of Simulated and Historical Data
نویسندگان
چکیده
In this note, we apply the testing methodology of Corradi and Swanson (2003a), which is based on a distributional generalization of White’s (2000) reality check in order to examine the “distributional fit” of alternative real business cycle models. Parameter calibration and estimation error is found to matter much less than distributional assumptions, when some simple illustrative macroeconomic models are considered.
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