NEED HELP for Bayesian estimation error

DSGEtest5.mod (7.4 KB)
obs.xlsx (16.6 KB)
Hi, Professor Pfeifer, When I was doing the bayesian estimation, I encountered the problem like this:Error in computing likelihood for initial parameter values

ESTIMATION_CHECKS: There was an error in computing the likelihood for initial parameter values.
ESTIMATION_CHECKS: If this is not a problem with the setting of options (check the error message below),
ESTIMATION_CHECKS: you should try using the calibrated version of the model as starting values. To do
ESTIMATION_CHECKS: this, add an empty estimated_params_init-block with use_calibration option immediately before the estimation
ESTIMATION_CHECKS: command (and after the estimated_params-block so that it does not get overwritten):

Error using print_info
Error using print_info
Blanchard & Kahn conditions are not satisfied: no stable equilibrium.
Error in initial_estimation_checks (line 291)
print_info(info, DynareOptions.noprint, DynareOptions)
Error in dynare_estimation_1 (line 159 )
oo_ = initial_estimation_checks(objective_function,xparam1,dataset_,dataset_info,M_,estim_params_,options_,bayestopt_,bounds,oo_);
Error in dynare_estimation (line 118 )
Error in DSGEtest5.driver (line 649 )
Error in dynare (line 281 )
evalin(‘base’,[fname ‘.driver’]);

The mod.file and the data file are attached.Thank you in advance.

Your model has a unit root. So you are missing the


option. After that, there is a problem with stochastic singularity due to observing an exact linear combination implied by the model.

Thank you so much for your help!
For the stochastic singularity problem, I’ve tried dropping a observable and the model runs well!

Dear professor, with dropping the observation variables piobs_t & robs_t,the model seemed running well.But now I meet the follwing error.could you please give me some advice ?Thank you so much.

Error using reshape
The size vector elements should be non-negative.
Error McMCDiagnostics (line 94 )
Draws = reshape(Draws, [NumberOfDraws nblck]);
Error dynare_estimation_1 (line 500 )
oo_= McMCDiagnostics(options_, estim_params_, M_,oo_);
Error dynare_estimation (line 118 )
Error DSGEtest6.driver (line 637 )
Error dynare (line 281 )
evalin(‘base’,[fname ‘.driver’]);

I would need to see the code to replicate the issue.