Good morning to all,
I am estimating a simple Solow model using bayesian methods. When I set mh_conf_sig>= 0.9 both HPDinf and HPDsup become NAs; also, how can the small gaps in the graphs related to the estimation function output (e.g., bayesian_irf) be eliminated, I am using Octave. Here is the code of my model:
% warning('off')
% addpath /opt/homebrew/opt/dynare/lib/dynare/matlab
% pkg load io
% dynare Solow_mod.mod
% Simple Solow Model
var Y K Z C I;
varexo e;
parameters alpha delta s rho; % Declare parameters
alpha = 0.35; % Parameter values
delta = 0.025;
s = 0.1;
rho = 0.75; % Autoregressive parameter for the technology shock
% Model equations
model(linear);
C=Y;
I=Y;
Y=Z+K(-1)*alpha;
K= (1 - delta)*K(-1) + delta*I;
Z = rho*Z(-1)+e;
end;
initval;
Y=0;
K=0;
Z=0;
I=0;
C=0;
end;
shocks;
var e; stderr 1;
end;
steady;
check;
stoch_simul;
results1=oo_.irfs;
estimated_params;
alpha, beta_pdf, 0.35, 0.02;
delta, beta_pdf, 0.025, 0.02;
end;
varobs C;
estimation(datafile=rbc_data,mh_replic=200,mh_conf_sig=0.9,bayesian_irf) Y K Z C I;
oo_.PosteriorIRF.dsge
I also upload a figure with the gaps and the database used for estimation. I would appreciate any indication.
rbc_data.xlsx (70.6 KB)
Thank you very much,