I’d like to reproduce the results in a paper I’m currently reading. The problem is that the prior data only includes the distribution, mean and confidence interval used, and not the standard deviation. I know that Dynare only takes mean and stddev as input arguments when declaring priors, which begs the question, how do you incorporate asymmetrical priors? It was my understanding that one of the benefits of using the MCMC technique is the ability to use asymmetrical priors, plus it seems like several commonly-used prior distributions (beta, gamma, etc.) are asymmetrical. There must be something I’m misunderstanding about the way prior distributions are entered.

I’m sure this is a simple question, but I can’t find any information in the manual or anywhere else online. Would someone be willing to take a quick look at this and let me know how to code the priors the authors use, if it’s possible?