jpmodel5.mod (9.5 KB)
jpdat.mod (19.9 KB)
equation.pdf (243.1 KB)
Kotera_Sakai(2018)PPR.pdf (2.9 MB)
I’m confused by this error which equation doesn’t have a unique solution. This is because the formula has once been estimated by another paper through a regular Kalman filter and should meet Blanchard & Kahn conditions.
I’m currently looking for the cause, but it’s not clear. If anyone knows, I would be grateful if you could point out what went wrong.
I attached equation of dynare at equation.pdf. If some wrong in the equation, please tell me.
My research is focusing Forecasting of Tax in Japan economy under DSGE-VAR model. So that, Prior research is mainly using Kotera_Sakai(2018)PPR.pdf to fulfill my paper in undergraduate school. Therefore, any mistakes is on Dynare model program but no mistake in my model in paper because that model is discussed on many papers in Japan.