When I estimate my model I always get results that are very close to the prior (for most parameters) and with very low standard deviation.
However if I change the prior significantly, I usually obtain again estimates close to the prior and also with low standard errors.
I also obtain very low acceptation rates (close to zero), unless I use a very low jscale (example 0.002). The intervals generated by the MH algorithm are incredibly small.
I find these results suspicious. Does anyone have sugestions on what should I do and why this is happening?
I have in attachment the mode file, the data (some variables are HP filtered), the output results and a pdf file that explains the model
JOAODYNARE.zip (203 KB)