# Attempt to replicate Smets and Wouters (2024)

**URL:** <https://forum.dynare.org/t/attempt-to-replicate-smets-and-wouters-2024/28158>\
**Category:** Replication Attempts\
**Created:** [5 January 2026 08:04 UTC](https://forum.dynare.org/t/attempt-to-replicate-smets-and-wouters-2024/28158 "2026-01-05T08:04:46Z")\
**Posts on this page:** 1\
**Page:** 1

<div class="post-metadata">

**Author:** ![AChadu](https://forum.dynare.org/letter_avatar_proxy/v4/letter/a/7bcc69/32.png) [@AChadu](https://forum.dynare.org/u/AChadu)\
**Post date:** [5 January 2026 08:04 UTC](https://forum.dynare.org/t/attempt-to-replicate-smets-and-wouters-2024/28158/1 "2026-01-05T08:04:47Z")

</div>

Hi everyone,

I’m trying to replicate the **Smets & Wouters (2024)** model in **Dynare** , with the goal of later adapting it to **Brazil**. Before making any modifications, I want to reproduce the **original model** as closely as possible, but I’m struggling: **Dynare runs without errors** , yet my **estimation results and/or IRFs look odd** (unexpected magnitudes/signs/persistence). This made me suspect that something might be wrong in my **model setup** (equations, observables, normalizations, measurement equations, etc.).

Has anyone here already tried to replicate the original paper (or has a working `.mod` file / replication code) and could share tips on common pitfalls?

Below is my replication block:

[SW2024\_v10.txt](https://forum.dynare.org/uploads/short-url/qjNpQWBRb8zbk6LWgJvCB6PcE23.txt) (54.5 KB)