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BadEconomics Discussion Thread, 19 June 2015 (self.badeconomics)

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トップ新着論争中古い順Q&A

[–]IntegraldsI am the rep agent AMA 2ポイント3ポイント  (6子コメント)

I'll get this thread started.

Friday music

Tonight's drink is a Manhattan.

The paper I'm reading today is the incredibly depressing Back to Square One: Identification Issues in DSGE Models, by Canova and Sala, 2009 JME. This paper went through a long revision process, and the working paper versions contain several instructive examples that were inevitably cut during the refereeing process.

The paper discusses identification, roughly, the extent to which we can learn about our DSGE models' parameters by estimating them with data. The results are somewhat distressing; many DSGE models are under-identified or not identified at all, and Canova is not particularly optimistic. It's a quite destructive paper. This paper kicked off the modern DSGE identification literature, with later papers trying to find conditions under which our models are identified, and if they aren't, what potential tricks we can use to make them identifiable (re-arranging some parameters, tweaking functional forms, using Bayesian priors, etc).

[–]besttrousers"Then again, I have pegged you for a Neoclassical/Austrian." 4ポイント5ポイント  (2子コメント)

I warned you!

[–]IntegraldsI am the rep agent AMA 2ポイント3ポイント  (1子コメント)

What I wish the likelihood function of my models looked like.

What the likelihood function of my models actually looks like.

[–]say_wot_againI guess I mod /r/goodeconomics now? 2ポイント3ポイント  (0子コメント)

Could be worse. Your likelihood functions could look like the Great Plains minus the wheat.

[–]say_wot_againI guess I mod /r/goodeconomics now? 3ポイント4ポイント  (0子コメント)

Welp, time to shut down /r/dsge. Pack it up, boys and girls. It's all hopeless.

[–]wumbotariandictatorship of the wumbotariat 0ポイント1ポイント  (0子コメント)

You and your weeaboo music. Tsk tsk.

ELIHAUD (explain like I have an undergraduate degree): identification. Are you talking about the calibration part of the DSGE?

[–]___OccamsChainsaw___Ours *was* the fury. 0ポイント1ポイント  (0子コメント)

Tonight's drink is a Manhattan.

Good taste. Here's how I do it, cleaner and slightly sweeter and more citrusey than a traditional:

  • 2 oz Canadian whisk(e)y

  • 1 full oz sweet red vermouth

  • 4 dashes Angosturas

  • 1/4 - 1/2 oz Grand Marnier

Add all to ice-filled mixing glass, stir for 30-40 seconds, pour into ice-filled old-fashioned glass, garnish with lemon twist.

[–]commentsrusBring maymayday back! 2ポイント3ポイント  (0子コメント)

Upvote if you're an economist

[–]wumbotariandictatorship of the wumbotariat 1ポイント2ポイント  (0子コメント)

Remember my trashcan story?

Well Monday was trash day. I unlocked my trashcan and put it on the curb Sunday night. On Monday after the trash was collected, I went outside to put it back and lock it up.

I found it next to my building, but it was already overflowing with trash. Someone dumped their trash (I believe it was mostly dirty diapers) in my trashcan on trash day after the trash was collected. I didn't bother locking it up.

I went outside yesterday and I found that my trashcan was stolen. Someone stole my trashcan while it was full of trash.

I fucking hate my block.