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The ‘Puzzles’ methodology: en route to Indirect Inference?

Le, Vo Phuong Mai, Minford, Patrick and Wickens, Michael ORCID: 2009. The ‘Puzzles’ methodology: en route to Indirect Inference? [Working Paper]. Cardiff Economics Working Papers, Cardiff: Cardiff University.

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We review the methods used in many papers to evaluate DSGE models by comparing their simulated moments with data moments. We compare these with the method of Indirect Inference to which they are closely related. We illustrate the comparison with contrasting assessments of a two-country model in two recent papers. We conclude that Indirect Inference is the proper end point of the puzzles methodology.

Item Type: Monograph (Working Paper)
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > HB Economic Theory
Publisher: Cardiff University
Date of First Compliant Deposit: 30 March 2016
Last Modified: 28 Oct 2022 10:19

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