Hallo everyone

I would have a question that what happen to an estimated DSGE model if number of parameters to be calibrated is higher than number of paramter to be estimated. For example, there are 65 parameters in a DSGE model. However, over half of number parameter such as 37 are calibrated. 22 remaining parameters will be estimated with the Bayesian technique.

What happen to this estimated model?

thank you so much