Irfs for bayesian DSGE estimation

[fff2]

Hi.
I tried to estimate the Gali 2022 DSGE model using some of the prof.Pfeifer’s codes (looked at some previous Gali’s models and some other codes written for estimation). The one thing I couldn’t manage to do alone is to save the specific IRFs of some variables in particular. I really need to save some of them because I have to show different responses of variables to different policy rules. The estimation code I am using now is:

estimation(datafile=gdata,mode_compute=6,prefilter=0,mh_replic=50000,mh_jscale=0.50,mh_drop=0.2, irf=20, bayesian_irf);

with mode_compute set to 6 instead of 4 because with 4 it didn’t work. Thanks to option bayesian_irf the IRFs actually appear at the end of run, but could not be saved singularly.

If anyone has any suggestions I would be very grateful. Thank you xx

[jpfeifer]

What exactly is the problem? If the IRFs are displayed, they also will be stored in the oo_ structure where you can access them for plotting.

[fff2]

Thank you for answering to me! Thank you for your work and for sharing so much valuable content.

The problem is that I cannot see them stored in oo_, indeed, I could not see them at all until I added the option “bayesian_irf” (only after that they were displayed).

[jpfeifer]

As documented in the manual, they are stored in oo_.PosteriorIRF.dsge

[fff2]

Thanks very much