thank you so much Professor.
Dear Professor
I got my bayesian estimation done.
Why is there ESTIMATION RESULTS show 90% HPD interval not 95%?
I set conf_sig=0.95 in the estimation.
Is there anywhere to improve it? or 90% is no harm to use and can say marginally ok for the write-up?
I attached herewith the files for you to review.
thanks very much
sytest3.mod (6.2 KB)
sytest3.log (178.9 KB)
mydat1.xlsx (25.6 KB)
90% are rather standard. If you want to change that, you need to set mh_conf_sig
thank you, Professor.
Dear Prof Jpfeifer,
I m trying to replicate the sensitive analysis from section IV of “Smets & Wouters(2007)Shocks & Frictions in US Business Cycles A Bayesian Approach”, to compare the marginal likelihood from each scenario by changing the parameters one at a time.
From estimated_params block, the value of prior parameters from the baseline model needed to change for exercise are listed below:
thetaH (Calvo pricing - domestic goods) = 0.8 to 0.1
thetaF (Calvo pricing - imported goods) = 0.8 to 0.1
kappa (Price Indexation) = 0.5 to 0.1
Cupsilon (habit formation) = 0.5 to 0.1
Cpsi (Inv. Elasticity of Lab. Supply) = 2 to 1
However, the program was unsuccessful and failed to run. Can you guide me how to go about it?
I attached the files for your review.
Thank you so much
sytest3.mod (6.2 KB)
Smets & Wouters(2007)Shocks & Frictions in US Business Cycles A Bayesian Approach.pdf (825.1 KB)
mydat1.xlsx (25.6 KB)