Ranges for Initial values and Priors

Estimation ML/Bayesian estimation
1

Hullo,

What are the standard rules for setting initial values and their ranges for parameters

2

You have to be a bit more precise in your question. What exactly are you looking for?

3

I think there are not standard rules.I think you can estimate some parameters by traditional Econometric methods or refer others empirical results directly.And you can calculate other parameters by solve steady-state.

4

Thanks Bandel