In the estimation command one can specify the mh_nblocks parameter. What does it really mean? In Metropolis-Hastings simulation, one can do it by separating the variables into several blocks/groups. Is this mh_nblocks parameter related to that, or is it something else?
Thanks.
Hi, If you choose mh_nblck>1 (the default value is two) Dynare will run mh_nblck Markov Chains starting from different initial conditions randomly selected around the posterior mode.
Best,
Stéphane.