Prior Bayesian IRFs

[Marius]

Dynare Reference Manual says that ‘estimation’ command with ‘bayesian_irf’ option triggers the computation of the posterior distribution of IRFs. Does it is possible to compute IRFs based on the prior distributions specified in ‘estimated_params’ block? In other words, I am looking for a way to compute IRFs solely based on prior information of the model parameters.

[jpfeifer]

That is a bit more complicated, but can be done with the prior_function-command. See

Credible set IRFs given priors

I used the following function: function output_cell = IRF_moments(xparam1,M_,options_,oo_,estim_params_,bayestopt_,dataset_,dataset_info), % function output_cell = IRF_moments(xparam1,M_,options_,oo_,estim_params_,bayestopt_,dataset_,dataset_info), % Function called by execute_prior_posterior_function that generates % variance decomposition for given set of parameters % For input/output arguments, see the Dynare manual on posterior_function % Copyright (C) 2016 Johannes Pfeifer % % This is f…

[Marius]

Thank you very much!