Erorrs in Bayesian estimation!

Dynare help (legacy posts)
1

Ask for help:
I have some difficulties in find flaws in the following,Could someone help me?

Prior distribution for parameter 16 has two modes!
Warning: File ‘DSGE/prior’ not found.

In CheckPath at 42
In set_prior at 227
In dynare_estimation_1 at 83
In dynare_estimation at 62
In DSGE at 358
In dynare at 132
??? Attempted to access k(1); index out of bounds because numel(k)=0.

Error in ==> draw_prior_density at 93
binf = abscissa(k(1));

Error in ==> plot_priors at 96
[x,f,abscissa,dens,binf,bsup] = draw_prior_density(i,bayestopt_);

Error in ==> dynare_estimation_1 at 87
plot_priors(bayestopt_,M_,options_)

Error in ==> dynare_estimation at 62
dynare_estimation_1(var_list,varargin{:});

Error in ==> DSGE at 358
dynare_estimation(var_list_);

Error in ==> dynare at 132
evalin(‘base’,fname) ;

2

It’s hard to tell without having a model-file, but usually it means that a beta prior is not specified correctly. As a beta distribution is bounded between 0 and 1, a mean of 0.5 is e.g. incompatible with a variance of 0.5 as some values would have to be outside the support. Try to decrease the variance of all beta priors and see if it works then.

3

Thank you for your help!
I find some beta’ distribution variance is set equal to 1.