Bayesian IRF plot


#1

What is the gray shaded areas in the Bayesian IRF plot? I read your article titled “An Introduction to Graphs in Dynare”, but I think there is very little explanation for it. Is there another source for further explanation?


#2

The shaded areas are the Bayesian equivalent to a confidence interval. They tell you in which range the IRFs fall with 90% probability.


#3

in estimation, how can we show the fluctuations of the endogenous variables?


#4

What exactly do you mean with this?


#5

For example, what should I do when I want to investigate the changes and fluctuations of an endogenous variable in DSGE models?


#6

Usually, people look at the IRFs.


#7

Why in the IRF charts,The bold dash is placed outside and sometimes inside the gray shaded areas?


#8

Are you using the most recent Dynare version?


#9

yes. my version is 4.5.6


#10

Then please provide an example of the IRFs in question.


#11


#12

This is one example, can anyone help?


#13

I have never seen something like this. I would need to see the log-files of the run and the files themselves.