Do initial values matter for IRFs if applied to different countries?

Stochastic simulations
1

I am using a slightly readapted model of Gerali et al (2010) and the model is non-linear and all the vars are expressed as exp(.). This is a functioning code file I got from someone else, but my questions is, when I want to use different parameters to apply the model for a different country, and I am mainly interested in producing IRFs, do I need to change the initial values (they are not analytical, but numerical initial values) assuming the code still runs?

So if I use the original initial values that were for a country A, and I change the parameters to fit the characteristics of the country B, and A and B are both small open economies but certainly different in some aspects, would using the original initial values produced biased results?

2

initval is only for steady state finding. If the steady state is found, the initial values will not have any other effect. Moments and IRFs will be identical with all initial values yielding the same steady state.