Estibration: An Illustration of Structural Estimation as Calibration

40 Pages Posted: 14 Sep 2004

See all articles by Edward J. Balistreri

Edward J. Balistreri

Iowa State University

Russell H. Hillberry

University of Melbourne - Department of Economics; World Bank - Development Research Group (DECRG)

Date Written: July 2004

Abstract

Christina Dawkins, T.N. Srinivasan, and John Whalley (2001) propose that estimation is calibration. We illustrate their point by examining a recent econometric study by James E. Anderson and Eric van Wincoop (2003). We replicate the econometric process, and show it to be a calibration of a general equilibrium model. Our approach offers unique insights into structural estimation, and we highlight the importance of traditional calibration considerations when one uses econometric techniques to calibrate a model for comparative policy analysis.

Keywords: Calibration, estimation, general equilibrium

JEL Classification: F10, C13, C60

Suggested Citation

Balistreri, Edward J. and Hillberry, Russell H., Estibration: An Illustration of Structural Estimation as Calibration (July 2004). Available at SSRN: https://ssrn.com/abstract=589062 or http://dx.doi.org/10.2139/ssrn.589062

Edward J. Balistreri (Contact Author)

Iowa State University ( email )

260 Heady Hall
Ames, IA 50011
United States
3032531674 (Phone)

Russell H. Hillberry

University of Melbourne - Department of Economics ( email )

Melbourne, 3010
Australia

World Bank - Development Research Group (DECRG)

1818 H. Street, N.W.
MSN3-311
Washington, DC 20433
United States

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