I am trying to estimate a DSGE model and I would like to generate posterior statisctics of parameters( mean and standard deviation) by using random walk metropolis in Dynare 4.5.7. I have introduced in the code the command bellow but it dosen’t work. estimation(datafile=data_nfbsop_54q307q2, first_obs=1 ,prefilter=0,mode_compute=0,mode_file=cn_fsample_mode,lik_init=2,conf_sig=0.90,bayesian_irf,smoother,mh_nblocks=2,mh_jscale=0.25,mh_drop=0.5,mh_replic=500000);
I am looking for the code of Dynare to generate posterior statistics of parameters. Thank you
What is the error message?
Why do you have two
estimation-commands in the file? And one with
lik_init=2 (Harvey/Phillips initialization) and one with
diffuse_filter? If you want the second command to work, you should replace
Thank you for your answer,
for the second command l tried to estimate the model and compute IRF function at the same time. Excuse my lack of knowledge in DSGE modeling. I have tried your proposition it allows to solve the error line (121) but the other errors keep staying. Also I did not find the posterior estimation of the parameters in the output and i have alwayse this table called RESULTS FROM POSTERIOR ESTIMATION in the output attached but don’t shows posterior estimation. please find attached the file output+ errors message and the m.files for the new errors
output errors message .txt (32.4 KB)
dynare_estimation_init.m (28.6 KB) error 463 cn_amend_7obs.m (19.7 KB)
I am still not sure what you are trying to achieve. The error you are now getting is from you trying to load a mode-file that does not exist, because you renamed your file but did not adjust this filename.
Also, which output exactly are you looking for?
Thank you for your help. I am looking for output of posterior estimation of parameters ( posterior mean and posterior stdv) by using Random Walk Metropolis.
You ran the first
so there was no Random Walk Metropolis that ran.