Dear all:
I’m doing Bayesian estimation, having
estimate_newway.mod (7.6 KB)
data2.xlsx (16.7 KB)
some problems
After I run the mod file, the likelihood turns out to be -18939095987714.35, it’s a weird result
And there is a warning:
POSTERIOR KERNEL OPTIMIZATION PROBLEM!
(minus) the hessian matrix at the “mode” is not positive definite!
=> posterior variance of the estimated parameters are not positive.
You should try to change the initial values of the parameters using
the estimated_params_init block, or use another optimization routine.
警告: The results below are most likely wrong!
位置:dynare_estimation_1 (第 315 行)
位置: dynare_estimation (第 105 行)
位置: estimate_newway.driver (第 620 行)
位置: dynare (第 293 行)
Finally I don’t get the parameters’ posterior distributions.
Can someone help me with it? Thanks a lot!