Hello everybody,
When I use an external file for the steady state, how should I insert the parameters I want to estimate in that file?
If you use the structure of the file provided in the examples, the current parameter values will be passed to the file.
Thank you for you reply, I try to explain better my question.
I set up my files this way, but I am not sure about how to implement the bayesian estimation correctly: should I just insert at the bottom "param, normal_pdf, 4.00, 0.10; " or should I modify the steady state files as well?
P.S.
Do you see anything relevantly wrong in my companion files?
Equilibrio.m (2.1 KB)
Marco_RBC_nolin.mod (1.3 KB)
Steady.m (3.4 KB)
You need to write a proper steady state file. See e.g. https://git.dynare.org/Dynare/dynare/blob/master/examples/NK_baseline_steadystate.m
Thanks a lot for the tip.
That model ran hence I tried with a more difficult one and dunare gave me this message
“Undefined function or variable
‘eps_c’.
Error in No_exp_steadystate
(line 66)
lam_p = (eps_cbeta_p(c_p -
zeta*c_p)^(-sigma_c) )/P; % 1.
Error in”
What am I doing wrong?
dataGerali.m (5.1 KB)
No_exp.mod (32.6 KB)
No_exp_steadystate.m (16.1 KB)
When you use eps_c in that line of your code, its steady state value has not yet been defined by you.
I don’t compleatly understand, anyway how can I fix it?
You are providing an analytical steady state. That implies that you have values for all variables. So you must know eps_c.
Right! It is obvious now.
Thank you.