Hello everyone,

I have tried to do a bayesian estimation, but I keep getting errors. Could someone help me resolve this? Thanks. @jpfeifer

aduinformal.xlsx (9.8 KB) Trial.mod (4.1 KB)

EIGENVALUES:

Modulus Real Imaginary

```
9.291e-17 -9.291e-17 0
1.08e-13 1.08e-13 0
1.413e-10 1.413e-10 0
1.413e-10 -1.413e-10 0
0.2 0.2 0
0.3187 0.3187 0
0.8 0.8 0
0.9 0.9 0
1.01 1.01 0
1.24 1.24 0
332.3 -332.3 0
4.596e+13 4.596e+13 0
6.503e+16 6.503e+16 0
```

There are 5 eigenvalue(s) larger than 1 in modulus

for 5 forward-looking variable(s)

The rank condition is verified.

==== Identification analysis ====

Testing prior mean

All parameters are identified in the model (rank of H).

All parameters are identified by J moments (rank of J)

==== Identification analysis completed ====

You did not declare endogenous variables after the estimation/calib_smoother command.

Posterior IRFs, posterior moments will be computed for the 30

endogenous variables of your model, this can be very long…

Choose one of the following options:

[1] Consider all the endogenous variables.

[2] Consider all the observed endogenous variables.

[3] Stop Dynare and change the mod file.

options [default is 1] = 2

Initial value of the log posterior (or likelihood): -3.672085193973942e+33

# ==========================================================

Change in the posterior covariance matrix = 10.

Change in the posterior mean = 55.4995.

Mode improvement = 3.672085169200748e+33

New value of jscale = 3.5197e-16

# ==========================================================

Change in the posterior covariance matrix = 1.1102e-16.

Change in the posterior mean = 55.4995.

Mode improvement = 3.672085168941511e+33

New value of jscale = 9.0809e-19

Error using chol

Matrix must be positive definite.