Hi,

I am an undergraduate student, and I am estimating a NK model using recursive Bayesian technique. I have data starting from 1960Q1 to 2014Q4.

What I want to do is to estimate the model:

First, by using the data from 1960Q1 through 1975Q4 and produce forecasts 1 to 8 quarters ahead, that is, for 1976Q1 to 1977Q4.

Next, I estimate the model using data from 1960Q2 through 1976Q1 to update the estimates and then produce another set of forecasts for 1976Q2 to 1978Q1. Estimates and forecasts are updates in this manner until the end of the sample.

Can anyone please tell me how I can update the following estimation command to produce the results that I want?

estimation(datafile=‘newdata’,mode_compute=0,mode_file=NKmodel_mode,presample=4,kalman_algo=1,lik_init=2,prefilter=0,mh_replic=0,mh_nblocks=2,mh_jscale=0.40,mh_drop=0.2,bayesian_irf, irf=20, forecast=8)

Thank you for your time.

Best Regards

Martin