Dear all,

I am building a DSGE model about macroeconomic policy however,

Error using beta_specification (line 63)

Beta prior (for beta). Given the declared prior expectation, prior lower and upper bounds, the prior std. has to be

smaller than 0.044677.

Error in set_prior (line 171)

[bayestopt_.p6(k(i)), bayestopt_.p7(k(i))] = beta_specification(bayestopt_.p1(k(i)), bayestopt_.p2(k(i))^2,

bayestopt_.p3(k(i)), bayestopt_.p4(k(i)), bayestopt_.name{k(i)});

Error in dynare_estimation_init (line 152)

[xparam1,estim_params_,bayestopt_,lb,ub,M_] = set_prior(estim_params_,M_,options_);

Error in dynare_estimation_1 (line 115)

[dataset_, dataset_info, xparam1, hh, M_, options_, oo_, estim_params_, bayestopt_, bounds] = …

Error in dynare_estimation (line 105)

dynare_estimation_1(var_list,dname);

Error in Untitled (line 989)

oo_recursive_=dynare_estimation(var_list_);

Error in dynare (line 223)

evalin(‘base’,fname) ;Untitled.mod (10.9 KB)

labor_data.m (26.7 KB)