I am trying to write a code for Peru, in Dynare’s language, and with Bayesian estimation. I got it when I am not estimate the parameters, but when I try to adapt it, I constantly fail. I would like to see some DSGE’s codes (not RBC, please!) with Bayesian estimation. I know the principles are simply, but I think they will be great to me. If it is possible, attach the data to see the whole process in my matlab. THanks!
There are the fs2000.mod in the Dynare examples folder and the Garcia-Cicco et al. file on my homepage.
Great. I would like to know why Ambrogio-Cesa-Bianchi had used initial-block, if he got the expression for steady-state. If he knows the steady-state, the best would be use steady-state-model-block? These equations are not the equations for steady state? I typed resid(1) and I saw there are values different from zeros. Why have this been occuring?
SU03.mod (2.35 KB)
A replication file for parts of Schmitt-Grohe/Uribe (2003): “Closing small open economy models”, Journal of International Economics, 61, pp. 163-185 is available on my homepage.
Dear jpfeifer, i have a question about the fs2000.mod. why the response of output to a money growth rate shcock in the fs2000 is negative?
From Schorfheide’s paper:
[quote]In the standard cash-in-advance model M1 households can adjust their deposits
contemporaneously in response to the money growth shock. The nominal interest rate is
approximately equal to the real interest rate plus expected inflation. The money growth shock
increases the expected inflation rate. Thus, the nominal interest rate rises and output slightly