Dear all, I am doing Bayesian estimation in Dynare. As I read on the guideline of the Dynare manual, they do not mention listing the values of parameters when doing estimation. And in these slides, WDH also says that only need to declare value of the parameters that are not ESTIMATED. In my case,…

Without having the mod file, my best guess is that you are calling the steady command before the estimation command. This cannot work if you do dot have values for all the model’s parameters. If you use another command before estimation, you must calibrate all the parameters. Otherwise you do not ne…

[image] A question about bayesian estimation in sw2007 ML/Bayesian estimation Adding to the answer: it is recommend to always fully calibrate your model before estimation. See Remark 2 (Using stoch_simul before Estimation) from Pfeifer(2013): “A Guide to Specifying Observat…

Yes, you’re right. I put the command steady state before estimation.

Dynare Forum

Paramter values for Bayestian estimation?

Estimation

jpfeifer 24 September 2018 08:52 3