Dear guys,I’m trying to use bayesian estimates for my model parameters.But the system warned me that
“dynare_estimation_init:: The steady state at the initial parameters cannot be computed.The steady state contains NaN or Inf”
I want to know how to check this error,The code and data are attached.Thank you very much!
Bayesian estimation.zip (5.0 KB)
Before estimation, make sure your model runs with stoch_simul. In your case, see Remark 2 (Using stoch_simul before Estimation) of
Pfeifer (2013): “A Guide to Specifying Observation Equations for the Estimation of DSGE Models”
Also, please handle parameter dependence correctly.
Thank you for your patience in answering my questions.
I have adjusted the code according to your method.But I have a new problem,the estimation gives me the following error
Log data density [Laplace approximation] is NaN.
Any ideas why or how should I tackle this problem?
B_est.zip (5.6 KB)
From what I can see, the observation equations are wrong. It seems your data is multiplied by 100 or something to that effect. Search the forum on this.
Yes, it’s my data‘s wrong!Thank you very much for your constructive advice and unselfish help