I’m having trouble in estimation of a small open economy model. I think the problem is with the forecast command, because the error occurs right after the print of the point/mean forecast graphs.
model_diagnostics command indicates that there is no problem with the model, and i had run the code twice with fewer iterations with no problems (except the fact that there was convergence issues). More specifically, i’ve used the load_mh_file for the third time in order to achieve convergence in a total of 4600000 MH draws per chain (4 chains), and then this error appeared, just when the MH seems to have converged.
I’ll attach the mod file (w/ mh_mode + data file ) but i dont think it is feasible to reproduce what i’ve done to get the error, so i hope that anyone can help without executing the mod file.
Error message:
Error using print_info (line 32)
Blanchard & Kahn conditions are not satisfied: no stable equilibrium.
Error in DsgeSmoother (line 108)
print_info(info,options_.noprint, options_);
Error in dynare_estimation_1 (line 558)
[atT,innov,measurement_error,updated_variables,ys,trend_coeff,aK,T,R,P,PK,decomp,Trend,state_uncertainty,M_,oo_,options_,bayestopt_]
=
DsgeSmoother(xparam1,dataset_.nobs,transpose(dataset_.data),dataset_info.missing.aindex,dataset_info.missing.state,M_,oo_,options_,bayestopt_,estim_params_);
Error in dynare_estimation (line 105)
dynare_estimation_1(var_list,dname);
Error in WT.driver (line 665)
oo_recursive_=dynare_estimation(var_list_);
Error in dynare (line 294)
evalin(‘base’,[fname ‘.driver’]) ;
data2015tvit.mat (3.0 KB) WT.mod (13.8 KB) WT_mh_mode.mat (16.3 KB)