Hello all,
When I ran the example code bkk.mod, I found the results generated from dynare are significantly different from those in the original paper (especially standard deviations in table 4, see details below). The problem itself may not be important, but I really want to make sure I understand dynare results correctly and don’t make mistakes when mapping them to real data in future projects.
variable s.d. by dynare s.d. in table 4(%)
consumption C_H 0.0053 0.62
hours N_H 0.0024 0.76
capital K_H 0.1261 1.16
fixed invt X_H 0.0437 16.91
output Y_H 0.0174 1.55
As far as I know, both series are in logarithm and HP-filtered. Can anyone help explain the difference? Thanks a lot in advance!