GTAP Resources: Resource Display
| GTAP Resource #3506 |
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"Bayesian validation of GTAP parameters on a large scale dynamic dataset" by Lugovoy, Oleg and Vladimir Potashnikov Abstract The paper discusses a Bayesian approach to validation and estimation of GTAP parameters using additional information on economic dynamic from various sources. The approach combines non-linear programming optimization routine with Bayesian statistical inference. The feature of the approach is in integrity of GTAP theoretical structure during the estimation/validation process. The parameters are being estimated within the model, without relaxing general equilibrium assumption. All the variables in the model remain in equilibrium. Another feature is flexibility of the data requirements. There are no specific data requirements for the estimation/validation routine. Any information regarding economic dynamics, levels of variables, values of parameters can be naturally introduced into the estimation routine. In the paper we are implement the methodology to estimate CES production function elasticity parameters for 27 US industries on EU-KLEMS productivity database. |
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- Software and modeling tools - Dynamic modeling - Calibration and parameter estimation |
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Public Access  Presentation (GTAP conference 2011) (263.2 KB) Replicated: 0 time(s)Restricted Access No documents have been attached. Special Instructions No instructions have been specified. |
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Last Modified: 9/15/2023 2:05:45 PM
