A question of Bayesian Estimation in Dynare

Estimation ML/Bayesian estimation
1

Respectable professor:

hello!

Here’s a question of Bayesian Estimation in Dynare. Since I haven’t found a general guidance for Bayesian Estimation, I feel much sorry for bothering you about this.When I’m conducting Bayesian Estimation , should I in Dynare express the endogenous variables as the function of the parameters to be estimated which is the same as that we calculate the steady state value of those variables in matlab? The model is not in linear form.

Sincerely
Qin

2

Ideally, you provide an analytically computed steady state. That facilitates estimation.