Hi, there. I wonder if there is a rule of thumb for the sample size of the observations used for Bayesian estimation?
Thanks in advance
Hi, there. I wonder if there is a rule of thumb for the sample size of the observations used for Bayesian estimation?
Thanks in advance
If I use the logged 1st-differenced data for the estimation, should I write an equation for dy?
i.e. dy = y - y(-1) and put dy in the varobs block.
Or dynare can understand that y is the 1st-differenced variable so I don’t need to specify another variable dy = y - y(-1) ? And I can just treat y as a 1st-differenced variable?
Thanks in advance
Thank you so much, professor pfeifer! problem solved