000			01288cam a2200217 4500500
005			20250121053555.0
041			_afre
042			_adc
100	1	0	_aCollard, Fabrice _eauthor
700	1	0	_a Fève, Patrick _eauthor
245	0	0	_aVAR or DSGE Models: Which Should We Choose?
260			_c2008.
500			_a7
520			_aThis article compares the performance of VAR and DSGE models.We use the maximum likelihood method to estimate the models for the growth rates of U.S. hourly labor productivity and hours worked in 1959-2003.We show that DSGE models, when they include sufficient real rigidities (such as adjustment costs for investment and persistence of leisure habits), display predictive qualities at least equal to those of a VAR model. These empirical results suggest that structural characteristics make DSGE models preferable to VAR models, especially for identifying structural shocks and their effects on aggregate dynamics.
690			_aVAR models
690			_aquantitative assessment method
690			_aDSGE models
690			_aidentification
786	0		_nEconomie & prévision | o 183-184 | 2 | 2008-10-13 | p. 153-174 | 0249-4744
856	4	1	_uhttps://shs.cairn.info/journal-economie-et-prevision-1-2008-2-page-153?lang=en&redirect-ssocas=7080
999			_c468511 _d468511