NaN in s.d. from mode_compute in 8 and 9, but not 6


I modified SW(2003) model with money in. The mod file is based on Jpfeifer’s mod file from SW (2007). However, there is a problem with finding a proper mode. The mode’s s.d. shows NaN when mode_compute= 8, or 9, but it works when mode_compute=6. Even I put mode file (from mode_compute= 6) with higher order 8 or 9, it still happens with that.
The model’s identification and simulations all look fine. I am not sure it is the problem with the model’s equations or as I updated version to Mac 4.5.3. Could you help me to quick look please? Thank you very much for the help!
swpooledata1.mat (5.1 KB)
mswmodel.mod (5.8 KB)

Best wishes,

For some reason, various parameters are at the prior bounds. The Hessian cannot be positive definite in this case:

The following parameters are at the prior bound: cprobw, csadjcost, cprobp, csigl, crpie
Some potential solutions are:
   - Check your model for mistakes.
   - Check whether model and data are consistent (correct observation equation).
   - Shut off prior_trunc.
   - Change the optimization bounds.
   - Use a different mode_compute like 6 or 9.
   - Check whether the parameters estimated are identified.
   - Check prior shape (e.g. Inf density at bound(s)).
   - Increase the informativeness of the prior.