I’m doing a bayesian estimation of the model and it seems like I have some problems with the mode of the parameters. Based on the results of mode_check plots, I see that not for all of the parameters and shocks the modes are at the maximum of the posterior, they are quite close for most of them, but not exactly. Is that a problem? If yes, is there some general procedure to fix this problem?
Can it be fixed by setting higher standard deviations for these parameters?
Thank you for your help in advance!
With kind regards,