Hello everyone
Does anyone know how many burnin should be good enough? since in Dynare, the default number of burnin is 50%
With best regards
Hello everyone
Does anyone know how many burnin should be good enough? since in Dynare, the default number of burnin is 50%
With best regards
There is no general guidance. Often a burnin of 100,000 draws is sufficient. If you want to know it in detail, you can use the raftery_lewis_diagnostics
in version 4.5, which will provide an estimate of the required burn-in.