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Book part
Publication date: 22 November 2012

Anna Kormilitsina and Denis Nekipelov

The Laplace-type estimator (LTE) is a simulation-based alternative to the classical extremum estimator that has gained popularity in applied research. We show that even…

Abstract

The Laplace-type estimator (LTE) is a simulation-based alternative to the classical extremum estimator that has gained popularity in applied research. We show that even though the estimator has desirable asymptotic properties, in small samples the point estimate provided by LTE may not necessarily converge to the extremum of the sample objective function. Furthermore, we suggest a simple test to verify if the estimator converges. We illustrate these results by estimating a prototype dynamic stochastic general equilibrium model widely used in macroeconomics research.

Details

DSGE Models in Macroeconomics: Estimation, Evaluation, and New Developments
Type: Book
ISBN: 978-1-78190-305-6

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Book part
Publication date: 22 November 2012

Juan Carlos Escanciano, Thomas B. Fomby, R. Carter Hill, Eric Hillebrand and Ivan Jeliazkov

This volume of Advances in Econometrics is devoted to dynamic stochastic general equilibrium (DSGE) models, which have gained popularity in both academic and policy…

Abstract

This volume of Advances in Econometrics is devoted to dynamic stochastic general equilibrium (DSGE) models, which have gained popularity in both academic and policy circles as a theoretically and methodologically coherent way of analyzing a variety of issues in empirical macroeconomics. The volume is divided into two parts. The first part covers important topics in DSGE modeling and estimation practice, including the modeling and role of expectations, the study of alternative pricing models, the problem of non-invertibility in structural VARs, the possible weak identification in new open economy macro models, and the modeling of trend inflation. The second part is devoted to innovations in econometric methodology. The papers in this section advance new techniques for addressing key theoretical and inferential problems and include discussion and applications of Laplace-type, frequency domain, empirical likelihood, and method of moments estimators.

Details

DSGE Models in Macroeconomics: Estimation, Evaluation, and New Developments
Type: Book
ISBN: 978-1-78190-305-6

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Article
Publication date: 4 September 2017

Markus Schöbinger, Karl Hollaus and Joachim Schöberl

This paper aims to improve the efficiency of a numerical method to treat the eddy current problem on a laminated material, where using a mesh that resolves each individual…

Abstract

Purpose

This paper aims to improve the efficiency of a numerical method to treat the eddy current problem on a laminated material, where using a mesh that resolves each individual laminate would be too computationally expensive.

Design/methodology/approach

The domain is modeled using a coarse mesh that treats the laminated material as a bulk with averaged properties. The fine-structured behavior is recovered by introducing micro-shape functions in the ansatz space. One such method is analyzed to find further model restrictions.

Findings

By using a special reformulation, it is possible to eliminate the additional degrees of freedom introduced by the multiscale ansatz at the cost of an additional modeling error that decreases with the laminate thickness.

Originality/value

The paper gives a computationally more efficient approximate variant to a known multiscale method.

Details

COMPEL - The international journal for computation and mathematics in electrical and electronic engineering, vol. 36 no. 5
Type: Research Article
ISSN: 0332-1649

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