econometricsWhat’s a good example to demonstrate the difference between estimation and calibration?
Edit: I’m looking for something that has the same definition of “calibration” and “estimation” that Krugman uses here (i.e. that they are in some way substitutes):
“calibration” — which basically means tweaking the parameters of your model until it fits some aspects of the data, rather than flat-out estimating the model
There were no answers to this question.
All content is licensed under CC BY-SA 3.0.