Attached file has some graphs for mode check. mvarphi_i is the lag coefficient of nominal interest rate. I think something is going wrong with that. I used to get proper graph for this parameter earlier. But, after some modifications to model equations, observables and some parameters I started getting this kind of graph. I couldn’t trace the actual problem. Is it alarming something? What could be the reason and how can I improve this? The model converges and the acceptance ratio is also at the reasonable range of 0.20-0.30. Identification command also indicates that all parameters are identified.
Doc1.pdf (86.1 KB)