But my main problem with this warning is:
Initial value of the log posterior (or likelihood): -94686644715.0093
…
Log data density [Laplace approximation] is NaN.
why? How to fix it?
Also, if I understand correctly, you said in another post (Performing an estimation of parameters using real data) (24th reply) that the mean of the data should be equal to the mean of the corresponding model variable in the steady state, right? But there is a lot of difference for me.
Should I change the initial parameter values?
Can the problem be fixed by adding the measurement error to the observation equation?
(A Guide to Specifying Observation Equations for the Estimation of DSGE Models)