Error in computing likelihood for initial parameter values

Estimation ML/Bayesian estimation
1

Hey, i can’t run this model with bayesian estimation. I can not find out what the problem is, throw this error:

Error in computing likelihood for initial parameter values

ESTIMATION_CHECKS: There was an error in computing the likelihood for initial parameter values.
ESTIMATION_CHECKS: You should try using the calibrated version of the model as starting values. To do
ESTIMATION_CHECKS: this, add an empty estimated_params_init-block with use_calibration option immediately before the estimation
ESTIMATION_CHECKS: command (and after the estimated_params-block so that it does not get overwritten):

I hope someone can help me. Thanks
tarea4.mod (2.44 KB)
data_t4.m (2.99 KB)

2

This is most probably a timing error. Please see Remark 2 (Using stoch_simul before Estimation) in Pfeifer(2013): “A Guide to Specifying Observation Equations for the Estimation of DSGE Models” sites.google.com/site/pfeiferec … ations.pdf.

3

Could it also be data issue?

4

No, the determinacy properties at the initial parameter value are independent of the data.