This question might not be related to Dynare.
I was listening to a macro presentation, and the presenter showed his calibration strategy.
Two parameters in a stochastic process were estimated (MLE) and the rest was parameterized to match some moments. Then there was a critic of mixing estimation and calibration (more specifically, the critic was about not simulating all the moments/using SMM).
Why should we not use estimation and calibration at the same time? Is it because it’s wrong or just not recommendable?