Adding to the answer: it is recommend to always fully calibrate your model before estimation. See Remark 2 (Using stoch_simul before Estimation) from Pfeifer(2013):“A Guide to Specifying Observation Equations for the Estimation of DSGE Models”
Adding to the answer: it is recommend to always fully calibrate your model before estimation. See Remark 2 (Using stoch_simul before Estimation) from Pfeifer(2013):“A Guide to Specifying Observation Equations for the Estimation of DSGE Models”