Problem with steady state value of Lubik and Schorfheide

Dynare help (legacy posts)
1

Dear all,

I’m a beginner of Dynare. I got the mod file from Cocoa which is the mod-file of Lubik and Schorfheide (2007). Then I tried to estimate the Bayesian estimation using that file but i got the error massage as the following;

*??? Error using ==> dynare_solve at 82
exiting …

Error in ==> steady_ at 124
[oo_.steady_state,check] = dynare_solve([M_.fname ‘_static’],…

Error in ==> steady at 52
steady_;

Error in ==> LS20075 at 165
steady;

Error in ==> dynare at 132
evalin(‘base’,fname) ;*

So I try to modify several version but I still got the same error. Anyone please give some advice for me in order to complete the mod file.
I’m thankful for your time and your helps in advance.

Kornchanok

P.s. I also attract mod file and data file, too.
LS20075.mod (4.84 KB)
NZ.xls (28 KB)

2

You need to calibrate your parameters with some value, in order to compute an initial steady state.

There are already some calibrations around the beginning of your file, but there are commented out: uncomment them, and adjust them if necessary.

Best,

3

Dear SébastienVillemot

Thank you very much for your help.
By the way I cannot get the result from the estimation. I uncomment the value of parameters in the model as you suggested me. And then when Dynare run the model, it has the error about equilibrium as the following:

*Error in computing likelihood for initial parameter values
??? Error using ==> print_info at 39
Blanchard Kahn conditions are not satisfied: no stable equilibrium

Error in ==> initial_estimation_checks at 101
print_info(info, options_.noprint)

Error in ==> dynare_estimation_1 at 367
initial_estimation_checks(xparam1,gend,data,data_index,number_of_observations,no_more_missing_observations);

Error in ==> dynare_estimation at 62
dynare_estimation_1(var_list,varargin{:});

Error in ==> LS_01 at 249
dynare_estimation(var_list_);

Error in ==> dynare at 132
evalin(‘base’,fname) ;*

Could you please introduce me how to solve this problem.

Thank a lot in advance
Kornchanok

p.s. I already attach a new mod-file that i modified as your suggestion.
LS_01.mod (3.39 KB)

4

Dear SébastienVillemot

I can find out the solution of no stable equilibrium by putting “diffuse_filter” in the option of estimation command.

By the way, I also run the mod-file but there are the following error;

*Error in ==> csminwel1 at 43
global bayestopt_

??? Output argument “gh” (and maybe others) not assigned during call to
“D:\dynare4.2.0\4.2.0\matlab\csminwel1.m>csminwel1”.

Error in ==> dynare_estimation_1 at 449
[fval,xparam1,grad,hessian_csminwel,itct,fcount,retcodehat] = …

Error in ==> dynare_estimation at 62
dynare_estimation_1(var_list,varargin{:});

Error in ==> LS_01 at 254
dynare_estimation(var_list_);

Error in ==> dynare at 132
evalin(‘base’,fname) ;
*

I also search the previous post in the Dynare forum but i still cannot find the solution.

Could you please give any hint to solve this error.

Thank in advance
Kornchanok
LS_02.mod (3.41 KB)