Avdjiev (2016).pdf (1.3 MB) Dear all, I am doing a replication work of Avdjiev (2016). I have encounted a problem that the estimation procedure does not change the parameter value specified as prior mean. Do I misspecify the measurement functions or prior expressions or any other instructions? I a…

[image] Help with MLE/Bayesian estimation DYNARE ML/Bayesian estimation Your are not handling parameter dependence correctly. See Pfeifer(2013): “A Guide to Specifying Observation Equations for the Estimation of DSGE Models”

Parameter value does not change from prior mean after estimation

Estimation

jpfeifer September 27, 2021, 7:49am 3