I am trying to use OSR to find optimal monetary policy parameters.
But I have got the following:
Error using cmaes (line 546)
Initial search volume (SIGMA) must be greater than zero
Error in Robot0924.driver (line 414)
[x_opt_hat, fhat, COUNTEVAL, STOPFLAG, OUT, BESTEVER] = cmaes('welfare_objective',x_star,H0,cmaesOptions,x_opt_name);
Error in dynare (line 281)
Your setting of
H0 must be wrong.
Thanks for your reply!
I change the value of H0. And I use steadystate.m.
Dynare reports the following:
Does it imply the something wrong in steadystate.m?
This looks like a version conflict. I would need to see the files.
Thanks for your reply, Prof. Pfeifer.
- I run the mod file in Dynare 5.2, 5.0, 4.7-beta2, all three versions report following version:
- The file runs well in Dynare 4.6.4, but the results of optimal monetary parameters seem weird which equal to upper bound.
I refer to other posts in the forum, I try to change the initial value, but the results also look weird in dynare 4.6.4.
Maybe there’s something wrong with my steady-state file, so I specify an
initval block with the initial values for variables, however the optimal monetary parameters also equal to upper bound in dynare 4.6.4.
I send three files to you through P.M.
Starting with Dynare 5, the call to
resol has changed from
[oo_.dr,info,M_,options_,oo_] = resol(0,M_,options_,oo_); %get decision rules
[oo_.dr,info,M_,oo_] = resol(0,M_,options_,oo_); %get decision rules
Thanks for your reply, Prof Pfeifer.
I have changed the
resol in welfare_objective.m.
But when use
cmaes, the code could run, but it still show:
welfare_objective.m (1.2 KB)
- The optimal monetary parameters still look weird:
phi_Pi=5; (5 is the upper bound)