Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/241949 
Year of Publication: 
2021
Series/Report no.: 
cemmap working paper No. CWP13/21
Publisher: 
Centre for Microdata Methods and Practice (cemmap), London
Abstract: 
A common approach to estimation of dynamic economic models is to calibrate a sub-set of model parameters and keep them fixed when estimating the remaining parameters. Calibrated parameters likely affect conclusions based on the model but estimation time often makes a systematic investigation of the sensitivity to calibrated parameters infeasible. I propose a simple and computationally low-cost measure of the sensitivity of parameters and other objects of interest to the calibrated parameters. In the main empirical application, I revisit the analysis of life-cycle savings motives in Gourinchas and Parker (2002) and show that some estimates are sensitive to calibrations.
Subjects: 
Sensitivity
Transparency
Structural Estimation
Calibration
Savings Motives
JEL: 
C10
C52
C60
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

Files in This Item:
File
Size
828.8 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.