Real business cycles in emerging countries

Dear Johannes Pfeifer,

I am learning your dynare code of “Real business cycles in emerging countries”. I find that you directly “Use their posterior as starting values for estimation”.

If I delete estimated_params_init(use_calibration), do not specify any initial values, so to use the prior mean as starting values, I can not get similar estimation results interms of postierior mean with the paper.

I am just wondering how to get a similar estimation results of posterior mean without using any posterior information in the paper? Could you give me some hints?

Thanks in advance.


Unfortunately, that is not so easy and I am working on this currently.
Update: Please see the explanation at