Hi, dear professor,I encounter a problem of calculating the posterior intervals of parameters, which denote as model-local variables by"#" in the model section.
So is there a easy way to work it out?
Thanks.
That does not work with model local variables. What you can do instead is to define the model local variable as a parameter and handle the parameter dependence via a steady_state_model-block.
Thanks for answering me!
But I still doubt since steady-state-model is a file that handles endogenous variables, but my model-local variable is a parameter, like
"# r_ss=1/beta", where beta is a estimated parameter and thus in this way r_ss is also estimated.
So can such a parameter be defined in the steady-state-model?
Thanks!
Yes. For every iteration, the steady_state_model-block will be evaluated. Any parameter you set within the steady_state_model-block or the steadystate.m-file will be passed back. That allows handling parameter dependence as well. An example of this is at github.com/JohannesPfeifer/DSGE_mod/blob/master/Gali_2015/Gali_2015_chapter_6_5.mod