What do RBC economists mean by the term calibration? Empirically testing a theoretical model by matching simulated data

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What do RBC economists mean by the term calibration? Empirically testing a theoretical model by matching simulated data

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What Do Rbc Economists Mean By The Term Calibration Empirically Testing A Theoretical Model By Matching Simulated Data 1
What Do Rbc Economists Mean By The Term Calibration Empirically Testing A Theoretical Model By Matching Simulated Data 1 (12.42 KiB) Viewed 15 times
What do RBC economists mean by the term calibration? Empirically testing a theoretical model by matching simulated data from the model to corresponding values from real-world data. O Changing a theory as the economy changes. O Adjusting empirical models to validate a particular macroeconomic theory. O Modifying the structure of an economic theory to strengthen its logic to better match the data.
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