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The computational experiment: an econometric tool

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  • Finn E. Kydland
  • Edward C. Prescott

Abstract

A specification of the steps in designing a computational experiment to address a well-posed quantitative question, emphasizing that the computational experiment is an econometric tool used in the task of deriving the quantitative implications of theory.

Suggested Citation

  • Finn E. Kydland & Edward C. Prescott, 1994. "The computational experiment: an econometric tool," Working Papers (Old Series) 9420, Federal Reserve Bank of Cleveland.
    • Handle: RePEc:fip:fedcwp:9420
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    More about this item

    Keywords

    Econometrics; Econometric models;

    JEL classification:

    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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